Can you really trick yourself to save money? Saving money is a great habit to have and it’s also viewed as a conscious effort you have to make day in and day out.
Still, I do believe you can trick yourself into saving money from time to time because I’v done it myself. This doesn’t mean you don’t have to be aware of the fact that you’re saving.
It’s just a low-effort and flexible way to save money so you don’t have to feel pressured or limited in any way. If you’re new to saving money or have struggled with setting aside money to save in the past, I’d highly recommend you check out these easy and fun ways to trick yourself into saving.
Automate Your Savings
If you haven’t already, start automating your savings by setting up recurring transfers. All you need to do is connect your checking account to your savings account. Then, schedule your transfer on a specific day (Ie. when you get paid) and make sure to set it as recurring.
That way, you can choose how much money you want to transfer to savings and how frequently you want to make transfers. The great thing about automating your savings is that you don’t have to worry about it.
You can set up an automate transfer to take place as soon as your paycheck hits your account. That way you don’t even miss the money. If you want to start small, go with a savings account that you can afford even if it’s just 1% of your income. That’s better than nothing.
Use an App
Apps like Acorns help you effortless save your spare change and use it to invest. All you need to do is connect it to your checking account.
Another program I like using s Digit. Digit also connects to your checking account and studies your spending to find ways you can save money. Then, they make small transfers to savings based on what they feel you can set aside easily.
Sometimes it’s $5 while other times it’s $15. I was able to save $200 in just a few weeks using Digit. The great thing is that I didn’t really even miss the money from my account.
If you ever want to pause Digit so that it doesn’t make any savings transfers, you can do that whenever you like. You can also set up a low balance threshold which prevents Digit from saving for your whenever your account reaches a specific balance like $100, for example.
Accessing your savings is simple and you can transfer money back to your checking account whenever you want.
Use Your Bank to Round Up Spare Change
Some banks also have a feature where they round up spare change from your checking account and help you save it automatically.
For example, Bank of America will round up purchases to the nearest dollar and save that amount. So, if you purchase a cup of coffee for $3.30, $0.70 will be transferred to your savings account.
This may seem like a small amount on its own, but it will add up as you make transactions each day and each week. Plus, there’s practically no effort required on your end.
Pick Up Spare Change
You don’t need an app to trick yourself into saving. Just simply start picking up spare change around the house. I started doing this last year and it’s been a fun way to save money for future purchases.
I usually find change all over the house as well as when I do laundry and empty out the dryer. I also use the cash envelopes budgeting system so I take leftover change from my envelopes at the end of the month and add it to my savings jar.
Just after a few months of doing this, I had saved around $60. This was enough to take my son on a fun day trip during his spring break.
I started refilling my jar with spare change all over again. This time, I want to save up money to redecorate my home this summer.
Pay a “Bill”
Another cool way to trick yourself into saving money is to treat it like a bill. When bills are due, do you make excuses as to why you can’t pay them? Probably not.
This is why you should create a small savings ‘bill’ each month and assign a date for when it’s due.
If you’re paying off debt, you can always pay it forward with saving after the account is paid off. For example, if you’ve been paying $100 per month for a debt and finally pay it off, just start transferring that $100 monthly payment to savings instead.
Avoid Lifestyle Inflation
It’s very difficult to find ways to save when you keep inflating your lifestyle and spending more money. Determine what type of lifestyle you want to live then create a realistic budget that helps you afford it.
Stick to that budget long-term so you don’t feel tempted to increase your spending or buy more stuff when you get raises and bonuses from work. Instead, keep living how you’ve been living and transfer that extra income toward savings.
Overall, saving money doesn’t have to be painful and difficult. There are plenty of effortless options that will allow you to trick yourself into saving money. That way, you’ll meet your financial goals overtime without feeling drained or burnt out.
Do you ever trick yourself into saving money? What’s your favorite technique to use?