Ways to be a better saver of money


save money

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According to Rand Corp. economists, in a study on money saving behavior from August 2012 to March 2013, people who wrote their money saving goals down saved 64%. People who did not write down their goals saved 53%. In this study, savers were given money and some of the savers were asked to write the following: “I am a good saver. I will commit myself to achieving my savings goals.” A third group in the study were those assigned to an account where they could not withdrawal any money over the next six months. That group saved even more than the other two.

If you want to save more, write it down, or share it with a trusted friend or family member. It seems to be the act of pledging to be a better saver that makes a person better at saving. People want to have their words and deeds match, especially if others know about a goal. Another sure way to set you up for success is to have some of your savings hard to get to.

Savings? Words matching deeds? Accountability? There’s an app for that! Yep. If you can’t come up with your own motivation to save, there’s an app and website Stickk.com by Yale behavioral-finance experts. With this app you can create a contract and share it with others. You can even include a penalty if you slack off. The penalty can be something like authorizing a credit card payment to a charity. Stickk.com has found that users who do share their goal with supportive people and chose to elect the penalty, have a success rate of 80%, while those who keep their goal of savings private succeed nearly 40% of the time.

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How to Visualize


visualize-square image credit: Good Search

If you want something, you’ve got to experience it in your mind’s eye before you can have it. It’s not, “I’ll believe it when I see it.” It’s “I’ll see it when I believe it!” Visualization is different than daydreaming. Daydreaming is just out there. In a daydream, you imagine without structure. You might even talk to a flying squirrel in your daydream. With visualizing, you’ll want structure. It’s not pondering what could happen, but what you want to happen. If you want a better job, say working in nature, you visualize yourself happily doing the job, wearing the uniform, and if you “see” a flying squirrel in your mind’s eye, it’s part of the job’s joy, not a random thought, or concern of the squirrel being a pest to plants and eroding the hillside.

Let’s say you want to pass your driver’s test, or get a promotion at work. Whatever you want, decide on it first. Then, lower your shoulders, and unwind from any anticipation or pressure to get what you want. Next, make sure you have five minutes uninterrupted to visualize what you want as if you’ve just gotten it. See yourself being acknowledged with words and actions, “You passed your driver’s test. Congratulations!” See people at work smiling, congratulation cards and e-mails, and things on your desk being packed up to move to the big office down the hall. Hear your friends and family say things like, “Good for you!” “Well done!” Feel the hugs, hand shakes or high fives. Take in the atmosphere. What does it feel like? Your body should feel the excitement of your accomplishment. It’s just happened! Jump! Shout! Feel the glory!

The feeling part of visualization is called seeding. Your thoughts create feelings, and your feelings create a corresponding vibration (high or low) in your body. All thought creates form, the form it takes depends on the vibration connected with it.

There are two types of visualization. One is having a precise idea of what you want before you begin visualizing it. With this type of visualization, you know what you want, and repeat that same vision every day. The other type of visualization is to just let positive thoughts of the outcome of your desire flow.

Keys to visualization: 

  • Keep it positive.
  • Keep it about the end result—as if you’ve just achieved it!
  • Visualize at least once a day for five minutes. It’s better to visualize 5 minutes 1x/day than 1 hour 1x/week.