If you (like me) have trouble saving, may I recommend a psychological trick that may help you save a little more? Sometimes, when you feel like you spend more than the people around you, it can get discouraging, and you can start thinking self-defeating thoughts. While some people are incredible at saving in all areas of their lives, I’ve noticed that many people have gotten really good at saving in one particular area. They’ve found their personal savings superpower.
For Mr. Tako, it’s eating out. While his family are super low spenders in general (especially taking out their mortgage and day care expenses), they just. don’t. eat. out. Ever.
They’ve saved hundreds of dollars per month and thousands of dollars per year, compounded over time because they’ve mastered the art of eating in (and I do mean “mastered.” Check out this post and this post on the delicious food Mr. Tako prepares at home).
Liz and Nate at Frugalwoods have arguably mastered everything, but they love seltzer, so they’ve optimized the price they pay for making bubbly water. They’ve figured out the hacks and tricks to pay as little as possible for their favorite beverage.
Now, eating all your meals in or making your own seltzer may sound awesome to you, or something out of the third level of hell. But, picking your one spending habit to improve does more than just save you money in this area. It actually psychologically sets you up for more success.
If you can identify one area that you’d like to master, spending-wise, then you can become the savings expert there. Maybe it’s keeping your gas costs low even though you drive a lot. You might keep your grocery spending at $300 or less for three people (like Lily!). It could be your entertainment budget. Continue reading “Finding Your Personal Savings Superpower”