Make Your Money Less Affordable to Save More
The easier it is to buy something, the more likely you are to do so. Therefore, the best way to protect your money or avoid shopping is to create obstacles in your path.
As personal finance site Becoming Minimalist explains, affordability drives consumption. You’re more likely to buy something on Amazon than driving across town to the store in two hours because it’s easy . Likewise, you are more likely to spend money in your main bank account than get money out of your 401 (k) because it is not that expensive. So, if you want to save money, start by complicating yourself:
As more and more retail stores appear on more and more streets, it becomes more and more difficult to overcome consumer habits. My daughter would eat less ice cream if the truck didn’t drive to our street every week. My son would be less likely to go to the store if he was not within a bike ride from our house. And we’d be buying less at Target if it wasn’t easy to get to.
Obstacles can take any number of forms. Moving part of your paycheck to a separate savings account so you never see it can help you avoid spending all your money. Shop with gift cards ( which you can get at a discount !) Rather than your main credit card, so you have tight restrictions on what you buy. Or don’t go to the store at all! The more difficult it is to spend money, the more chances you have of saving it.
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