3 PSYCHOLOGICAL TRICKS TO HELP U SAVE $

Thanks to Schooley Mitchell for their newsletter tip on this 5-minute TED Talk video featuring Wendy de la Rosa who explains how to save money by changing your decision-making environment.

There are 3 psychological tips:

1: pre-commitment

2: transition moments

3: manage small frequent purchases

We all know saving is important but we do it less. The amount you save depends on environmental cues around you.

They did an experiment showing people their monthly budget on a monthly basis and on a weekly basis.

The people who saw their budget on a weekly basis had $25 left at the end of the month versus the monthly group who had none. The amount of money didn't change. They just changed the environment in which they understood their income.

Environmental cues like this have an impact on your spending and saving habits.

Check out the video to find out more environmental cues on how to bridge the gap from your intention to save to actual results.