[E6] Money Psychology Hacks to Train your Brain to Save More

<p>Sometimes your brain will automatically and subconsciously dictate your actions. </p><p>Other times intentionally making smarter decisions will rewire the neural pathways in the brain. It works both ways. But in this episode, we’re going to discuss the second aspect.</p><p>More specifically, we’re going to discuss the relationship between smarter spending habits and how you can trick your brain into saving more money. </p><p>To understand how this works, we must first understand what behavior change looks like in the brain.</p><p>Saving is something that’s often seen as stingy and boring, but it’s an integral component of good financial health. </p><p>Examples include:</p><ul><li>Saving up for a down payment on a house</li><li>Saving to build up an emergency fund</li><li>Saving for retirement</li><li>Etc.</li></ul><p>There are really three ways you can save money:</p><ol><li>Increase your income and save the surplus</li><li>Spend less on things you’re already spending on</li><li>Cut out expenses and stop buying things you don’t need</li></ol><p>5 Strategies for “Tricking” Your Brain Into Saving Money</p><ol><li>Price in to Hours</li><li>Pay in Cash</li><li>Round Up Savings</li><li>Give it time</li><li>The Stranger Test</li></ol><p>Visit <a href="https://www.moneymadegood.com/">MoneyMadeGood.com</a> and plug in your email address to receive our weekly “Health, Wealth, & Wisdom” content.</p>