Saving is very important. But it is easier said than done. Being rational and logical is key when it comes to finance. But most people decide with their emotions and other psychological inclinations.
With this in mind, here are certain mental techniques you can use to condition your mind into saving money:
1. Deepest “Why”
If you know the real reason why you want to save, you will have more discipline and resolve to really save that amount of money. You should not focus too much on “how” you will save money. Instead, find out the real reason why you want to save money.
2. Feel Powerful
Research shows that people who feel powerful are more likely to save money because they believe by doing it they can maintain that state of power. So, remember the time you were made a huge success before you go shopping or before meeting your financial adviser.
3. Write it Down
A goal not written is just an imagination.
Make saving money more pleasurable. Incorporate the act of saving money with something that gives you pleasure.
5. Have Someone Else
Find someone else to help you save. This way someone will remind you and discipline you on saving money.
Focus your energy into one savings goal. Think about what you really want.