4 Non-money related ways to save money
Psychologists refer to it as the ‘what-the-hell effect’: a pattern where giving in to indulgence leads to subsequent regret, prompting further actions. Whether it’s impulsively purchasing items online or overindulging in various situations, the inclination is often to continue down the slippery slope rather than making corrective choices to save money.
First coined by dieting researchers in the 1980s, this phenomenon is now acknowledged in various setbacks, with individuals justifying their actions by adopting the mindset of ‘what the hell — you’ve already blown it.’
The what-the-hell effect explained further
In the period between Christmas and New Year’s, numerous individuals engage in a what-the-hell free-for-all, finding comfort in overindulgence and making unnecessary purchases. Health psychologists elucidate that this behavior is an attempt to alleviate guilt following excess, initiating a cycle of feeling remorseful and seeking solace in the very actions causing the guilt.
Breaking free from this cycle isn’t solely dependent on willpower or self-shaming. Instead, it entails practicing self-compassion and substituting destructive behaviors with enjoyable, constructive ones. Rather than emphasizing austerity in January, consider identifying activities you want to engage in more and explore behaviors that can lead to unexpected financial benefits.
01. Set walking objectives
Instead of aiming for an intimidating 10,000 steps in one go, break your day into 1,000-step ‘pop-up walks’ every 60 to 90 minutes. Choose outdoor walks, even if it means circling the same block. The unexpected financial perks include heightened alertness, reducing the reliance on costly afternoon coffees, sustained energy levels for homemade dinners, and a more composed mindset, minimizing impulsive online purchases. This is a simple way to save money.
Consider incrementally increasing your daily step count goal by 1,000 each year. This approach encourages walking for transportation, saving on commuting expenses, and fosters socialization through walking dates instead of pricey meals or drinks.
02. Streamline your closets
Addressing the surplus of possessions often deters the inclination to spend. Clearing out closets can rekindle appreciation for forgotten items, reducing the inclination for new clothes and therefore being able to save money. Responsibly disposing of unworn items, perhaps through consignment shops offering store credit, can influence future shopping choices.
This method provides a litmus test for purchases—reflecting on whether you’d be willing to resell the item encourages more deliberate buying decisions.
03. Prioritize an earlier bedtime
Establishing good sleep habits not only reaps health benefits but also offers underrated financial advantages to save money. Late-night tendencies toward impulse buying can be mitigated by putting your phone away earlier.
Going to bed early provides a lavish and luxurious sensation akin to other indulgences but with the added advantage of feeling rejuvenated the next day. It serves as a cost-free reward during periods of stress or burnout.
04. Prioritize investments in items you genuinely use
While scrutinizing your spending from the past year might seem akin to revisiting a crime scene, it’s crucial to pinpoint things that brought joy or served a practical purpose. Spending money is not inherently negative, particularly on items that consistently enhance your life.
To optimize your budget, explore the regular availability of discount codes throughout the year. These codes can serve as valuable tools for obtaining essential items at a more budget-friendly price point and make it possible to save money.
By actively seeking special offers, you can strategically replenish your stock of necessities and capitalize on cost-effective opportunities, ensuring that your spending aligns with your financial objectives and priorities.
4 Non-money related ways to save money conclusion
If you’ve been contemplating increasing your savings, now is the perfect time to translate that intention into decisive action. Commit to setting aside a substantial amount well before any pressing financial needs arise.
In the realm of saving money, the significance of small, non-monetary adjustments should not be overlooked to save money. As previously noted, incorporating some of the most impactful money-saving strategies can deliver prompt results. Why not consider exploring these strategies to initiate your path toward substantial savings?
