Financial Tips

The Psychology of Building Positive Money Habits

Struggling to make ends meet? Everyone is bombarded with this question almost every day: How to save money?

With today’s high cost of living, it‘s difficult to save more money. But many financial gurus or mentors will give you tips on saving money. Discipline and financial literacy are two important ingredients to be successful at saving money. Secrets have been divulged all over the Internet, but how do we really go about wiring our psyche to make saving a positive money habit?

Having our brain hard-wired to save is difficult as it is innate according to researchers. On the other hand, saving gives a pleasurable brain activity which will build positive money-saving habits. There are a few achievable and realistic tips on how to save more money shared by successful people — from housewives to entrepreneurs.


First: Always stick to your budget

List down all the things that you need and stick to it.  Make sure that you take your notes with you when you go to the grocery. You can make a creative list by writing it down on your color-coded sticky note or your pretty notebook for a start.

It is very tempting to buy items on sale. Don’t give in! Do you really need to buy a new Levis jeans? Companies are using marketing strategies designed to hook the attention of consumers to buy the products even if they don‘t really need them. Whenever you walk past the grocery aisle, look straight at your grocery list and walk away. That works! Or, maybe think about what will happen if you buy the item and won’t need it anyway.

Second: Build an emergency fund

Having a stable job alone won’t secure your future. Imagine losing your job and incurring large unexpected debts that will keep you trapped inside a sinking financial hole.

How to save money? Simple. Create an emergency fund and do it firmly. In time, you will find it very useful. You will congratulate yourself for saving money.

Third: Set realistic goals

Another tip on how to save money is to create a checklist of your goals. Whether it‘s buying

When you finally decide on how to save money, make a checklist of your goals.  Whether it’s opening a savings account or saving money on an emergency fund or retirement fund, make sure to include it on your goals and check your development or progress from time to time as needed. You will be amazed by the positive outcome you when you decide to save money.

Lastly, don’t rely your budget on someone else

There will be lapses and fallback when creating a budget from time to time. But what is most important is that you know how to bounce back from it and find another way around. If all the above-mentioned tips, such as having an emergency fund and setting realistic goals, did not work for you,  do not let someone else fix or take account of your financial obligations. Pay your own bills.

Find a lifestyle that won’t compromise your personal needs and finances. The sooner you find effective tips on saving, the sooner you create a positive habit of saving money. Always stick to what makes you happy without compromising your budget. This means buying only the things you can only afford and you can maintain. With the right approach to saving and spending money, positivity and balance are important

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