6 Mind Tricks to Help You Save More

I am sure you have heard a lot of financial experts say that in order to get rich, you need to earn more while spending less.  This advice may really be effective, but it is actually more difficult than it sounds.  

When temptations start to present themselves, all your firm resolutions start to melt.  But don’t worry.  This doesn’t mean it is impossible.  

Here are some effective mental tricks that can help you make yourself financially smarter in saving more while spending less:

1. Don’t give things up.  Instead, savor them.  

Cup of Coffee
Do you feel deprived when you cannot buy that new shoe or you cannot dine out in your favorite restaurant?  Managing your finances does not mean you should give up on things that you truly enjoy and cherish.  What you should do instead is to change how frequent you spend on those indulgences.  Instead of dining out every week, you can decide to do it once a month.  

2. Keep in mind that when you are not earning money, you are spending it.  
Do you waste a lot of time surfing the internet or watching TV instead of learning more about investment techniques that you want to pursue?  If your answer is yes, here is an effective trick you can use: determine how much your hourly rate is and apply that rate to the number of hours you waste on non-productive tasks.  If you waste 4 hours each night watching TV or reading and commenting on Facebook posts, that means you are wasting PHP880 every night if your hourly rate is PHP220.  Use this feeling of loss to push you to take more initiative
in pursuing your financial goals.

3. When shopping, stop and use the “urgency test” first.  
Impulse Shopping When you feel the urge to buy a new pair of shoes, ask yourself this question: 
“Would I really want to wear this new pair of shoes right now?”  

If you do not feel the excitement, perhaps you will be better off not purchasing it.

4. Take advantage of procrastination when it comes to non-essential items.  

Use the 30 day rule when you want to buy non-essential items like clothes and jewelry.  Before making the actual purchase, wait for 30 days and see if you still have the same desire to make the purchase or not.  Normally, your desire for a non-essential item will wane during that period.

5. Stop spending your loose change.  
Get a jar where you can place all the loose change you have accumulated during the day.  Then make the commitment not to spend it.  Instead, make it your habit to deposit the amount you have collected during the week with your bank account.  This technique can help you in avoiding small non-essential purchases such as gums and candies while saving more money for things that are more important to you.

6. Use it up, wear it out, make it do, or do without.  
This is a great mantra when you find it hard to stay frugal.  It is ideal if you can write this motto on various pieces of paper and put them in places that you can regularly see.  When you want to purchase an item, read the slogan and look at the things you are currently using with a more critical eye.  Do you really need a new phone or can you still use your old phone, wear it out, make it work or simply go without a new phone until you have more funds to buy one?

This is a guest post.

Author Bio:
eCompareMo is the country’s leading and complete comparison portal intended for Filipinos looking for quick, secure, and complete banking and insurance products in the Philippines, streamlining the comparison and application products to help Filipinos make informed decisions when it comes to their finances. Like them on Facebook to get more financial tips.


Did you learn something interesting today? Receive cool updates like this when you subscribe to PisoandBeyond!


  1. loved this article to bits! god bless and more power to you!

  2. Just like to add these to your "urgency" test (just read them from some books, sorry I forgot its title!!)

    1. Do I want this?
    2. Do I need this??
    3. Can I afford this??

    1. Allan CastroApril 02, 2015

      I think sa book yan iyong kuntento ka na ba sa PERA mo?? saka apat po iyon

      4. Gusto ba ng Diyos na bilhin ko ito? :D

  3. Great tips Jeff! This is a good start especially for beginners like me in proper personal finance. Just to add, you can check my collection of tips on how to save money here: http://www.thinkpesos.com/6-collection-of-tips-on-how-to-save-money/


Join the Discussion!

Contact Form


Email *

Message *