(FinancialHealth.net)- Experts say that you should save at least 20% of your gross monthly income. That’s right: 20%! That goal may feel out of reach for those living paycheck-to-paycheck or working with a fixed income.
Having emergency savings can give you peace of mind. It can cover unexpected car repairs, medical expenses, and even help you save for vacations. Knowing that you have something stashed away for a rainy day can help you breathe easy. But by the same token, it can create anxiety to realize that you don’t have anything to rely on during tough times. And even if you are saving diligently, are you saving enough?
What if you could harness the power of your mind to help you save more and spend less? Behavioral scientists believe you can. By using these psychological tricks, you can learn to build up your savings:
These tools can help you learn to save more by using simple mind tricks. Before you know it, you might find that rainy day account growing larger. Soon, saving might feel just as good as spending–maybe even better!
~Here’s to your Financial Health!
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