Science reveals effective ways that can help you save more money

In today’s world, where financial stability is a constant concern for many people, Science has provided valuable methods that can help you save more money.

(Also read: Bill Gates’ habit, which he considered lazy, but made him a millionaire.)

According to the “BBVA” website. Saving is the percentage of income that a person does not spend. This procedure is carried out in order to obtain financial resources for future expenditures, allocate them for specific long-term goals or keep them as a reserve in case of unforeseen situations.

However, experts consider that saving is certainly one of the most important financial behaviors. But it is also one of the most difficult to maintain.

In view of the lack of interest or economic constraints that may exist, all professionals agree on the importance of allocating an amount of money. Either for personal desires or for an emergency backup.

(Read on: Going it alone? Keep that in mind.)

Although there is no magic bullet or definitive formula for achieving perfect savings, Science supports certain methods that can help make it a habit.

Through such methods, even if it is in small amounts, it is possible to ensure that a portion of your income is always set aside for this practice.

Set clear savings goals

For many years, social psychologist Roy Baumeister has conducted research on willpower and self-control. He points out that having multiple goals reduces the chances of achieving any of them, therefore She recommends focusing on one savings goal.

The first tactic to save effectively is to set clear, realistic goals. Research indicates that a savings goal should be:

-specific: How much do you want to save? What do you want to save?

Measurable: It should be possible to measure your progress towards the goal.

-reachable: Your goal should be realistic and achievable.

-Appropriate: Your savings goal should be important to you.

Limited in time: You must set a specific time frame to reach your goal.

In addition to setting goals, It is essential to place obstacles in the places where you tend to spend the most money. If you find that your spending on groceries is high each month, you can choose to withdraw a certain amount of cash to set a clear limit on your spending.

Use cash instead of credit cards

Although it may sound unorthodox, Choosing to carry cash only can lead to less spending. Research has revealed that people tend to spend more when they use credit cards.

A study titled “The Effects of the Payment Mechanism on Spending Behavior: The Role of Experience and the Immediateness of Payments” concluded that past spending influences how it will be spent in the future. But also the method of payment plays an important role.

Credit cards are not seen as real money, and since payment is not instantaneous, people often underestimate the impact of their purchases.

(For the benefit: Income Statement: Myths and Facts When Presented).

Do not save cards in the browser

According to the web portal “El Economista”, another money-saving strategy is not to store payment data in the browser. Although this may be less convenient, It can have the benefit of making you think before making a purchase.

Have you ever experienced giving up on a purchase because your credit card was somewhere else? Although this minor inconvenience may seem insignificant, it can actually be a valuable asset in controlling your spending.

Share your savings goals with a friend

According to research presented in the New England Journal of Medicine, people are more likely to adopt negative habits if they have friends who also have those habits. This study revealed that Friends have a significant impact on people, even in financial matters.

If you decide to share your savings goals with a friend, they are likely to help you stick to your savings plans by suggesting activities that fit into your budget. Which may ultimately help you keep your savings plans on track.

Automate your savings with transfers

If you find it difficult to save money, The alternative is to automate this process. You can schedule automatic transfers from your main account to your savings account so you can save continuously without having to save manually.

Finally, the secret to successful saving is no mystery. It involves setting goals clearly, making sensible decisions, and committing to saving for the long term. By following these strategies, The chances of achieving your savings goals increase more smoothly.

Savings benefits

Emergency reserve: Savings provides a financial cushion in the event of unexpected emergencies, such as medical expenses or urgent repairs, and avoids resorting to expensive debt.

Achieve the goal: Saving helps you achieve long-term goals, such as buying a home, financing an education, or retiring comfortably, by providing the resources you need to achieve those aspirations.

Financial stability: Saving provides economic security and stability by creating a solid financial foundation, which reduces pressures caused by financial uncertainty.

investment and growth: Savings can be converted into capital for productive investments, stimulating economic growth through financing projects and projects.

Crisis support: Saving helps to cope with difficult economic conditions, because it provides the necessary resources to overcome recessions and maintain the standard of living in times of adversity.

Maria Camila Salas F

Write the numeric range

the time

More news at EL TIEMPO

They discover what it was like to be Ötzi, the “Ice Man” and one of the oldest mummies in the world

Unprecedented images of the Ring Nebula revealed by the James Webb Telescope

A NASA satellite found strange finds in the Canary Islands