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Saving money seems as if it’s about Xs and Os. Save X amount here and you’ll have Y later further down the road. However, it’s the mundane nature of cost-cutting that makes spending more appealing. There’s something sexier and more exotic about reaching for your purse rather than putting it back into your pocket.
There is good news, though: to save money doesn’t have to be unengaging. If anything, you’ll need to be more in touch with your emotions than ever because they have a considerable impact on your ability to put money away for a rainy day.
These are the reasons why.
Internalising Your Thoughts Leads To First-Time Success
For those who have ever winged a household renovation, you’ll know that unforeseen circumstances often lead to massive cock-ups. Thankfully, internalising your thoughts and feelings is an effective way of spotting the pitfalls before they appear. In fact, professionals and experts such as residential architects do this all the time. By using the descriptions, they can A) better understand your needs, and B) ensure they don’t miss any essentials. Whether you hire a pro or prefer to do it yourself, a renovation project needs completing at the first-time of asking, or else it will cost you money in new materials and labour.
Understanding Leads To Willpower
Often, temptation forces you to spend cash that you don’t have to in the grand scheme of things. Have you ever been to the supermarket on an empty stomach? Then you’ll understand how tough it is only to buy essentials and resist the urge to fill the trolley up with crisps and chocolate! But, understanding that there are ways to curb your urges will encourage you to avoid tempting situations and scenarios. Try shopping after lunch and see how much money you save in the long-term.
Guilt Is Healthy
The chances are you have felt guilty after making a purchase in the past. Everybody has been there and felt the weirdest emotion in the book. It’s not as if you did anything wrong, yet you can’t shake the idea that you’ve let yourself down. Instead of finding excuses and passing the guilt off as unimportant, it’s better to embrace the emotion. After all, guilt is a very powerful emotion and challenging to shake. Therefore, the next time you want to buy something you can’t afford, costing you money, you’ll feel a twinge of guilt. And, it should be enough to remind you that it’s not worth the internal struggle!
Emotions Are Motivating
Paying for products or services that are part of rigged systems, such as car insurance, is annoying. You know that when you need to lean on your policy, the insurer will find a loophole to limit their liability. What comes next is anger at being cheated out of your monthly premiums. However, anger and frustration are motivators. Firstly, they’ll compel you to fight the case and get your money back. Secondly, these emotions will encourage you to search for a cheaper policy with a more reputable company.
Are you aware of the extent that your feelings have on your savings?