Picture Your Savings GoalsPosted: 08/24/2011
Close your eyes and think about that item you’re saving money for. Maybe it’s a car, a house, a lime green trampoline, or something else I can’t imagine.
We respond very well to visual stimuli like this. Our goals are easy to see in our minds but harder to see once we’re faced with an opportunity to spend money. There’s such a disconnect between that dream item and the money that could be spent right now for that not-as-important item in front of us.
Here’s one of the easiest financial lifehacks to implement to catapult your way to those savings goals:
Include a picture of that thing you love* in your wallet next to your credit card or in your cash pocket.
This is hardly a new idea, but it’s a sound one. Every time you want to spend, you’ll look at the picture and get a visual cue of your savings goal that’s concrete. With this reminder, you can better decide if that vintage Furby is really worth it.
*Yes, that was a veiled reference to Old Old Spice Guy.
Have you used this technique before? Was it effective? Let me know in the comments.