- Automate saving and investing. When you automate something you make something that is hard for most people easy to accomplish. You learn how to live on less when the money is not in your account. This is due to the money being less accessible and often having to pay penalties to access it.
- Automate bills. If you can minimize how many transactions you manually pay then you lower your decision fatique and make better choices.
- Anchoring. Anchoring an amount you want to save can help you achieve your goals. Setting an expectation that is reaching but achievable can give you a goal to hit.
- Require Purchase Downtime. Require a week of considering a purchase before you make a purchase in a certain category or over a certain amount.
- Framing. Frame your savings as life or security purchased. You can strengthen this mindset by reflecting on the power of compounding over long periods of time.
Behavioral Strategies for Saving More Money
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Millionaire Librarian 