The best psychological tip for saving money

Hello everyone!

For those of you who follow me on Twitter or read my lifestyle posts you'll know that I have recently moved abroad to study Psychology at university.

As a result, I thought it'd be fun and relevant to write a psychological tip to help you all save money!

Enjoy x

We all know the clip from the film "Confessions of a Shopaholic" where Rebecca spends about five minutes trying to retrieve her credit card from its encasement of ice located in her freezer.

She can't control her spending and desperately wants to just buy everything. The result? Thousands in debt and all her cards are rejected.

So how do you avoid this? Well this is a tip that she would've definitely benefited a lot from and funnily enough it's so simple to do!

Here it is: stop paying with a card and pay in cash.

How simple is that?

Too simple you might think, but actually there's logic behind it.

Not only does this limit the amount you can buy on a shopping trip out but it's also all related to attachment.

One is a lot more attached to the cold, hard cash that we spend hours earning and saving that we hate spending it. We have a lot less attachment to a plastic card because we can't physically see the money coming off it, whereas when you have a £10 note and you give it to the cashier, you physically feel a loss and can see the different afterwards as your purse will be empty!

So next time you go out, leave your debit and credit card home and only bring a small amount of money with you. You might end up limiting the amount you spend as you don't like the look of an empty purse, and also it makes you more choosy at what you spend.

You'll have to ask yourselves the important questions and be more choosy:

1) Do I need it?

2) Will I use it?

3) Can I live without it?

4) Is it worth it?

Have a go! I challenge you to leave your card at home and spend less next time you go shopping.

Tell me on twitter or facebook if you've found it helps!

The Frugal Teen