Money Mindset Shifts That Can Help You Save More

Money Mindset Shifts That Can Help You Save More

The fact of the matter is most of us can save more money than we do but first you have to make a few money mindset shifts.

Focus On Spending Instead Of Saving

Be more mindful of when you spend. This goes beyond budgeting, to adding up your non-essential weekly and daily spending on things like coffee, dining out, clothing, entertainment, and more. If it helps, ask yourself before each unplanned purchase if it is a need to have or a nice to have.

Cash Only

When I say cash only, I’m not just referring to using your credit cards only for emergencies—but to giving yourself a weekly cash budget. The goal is to be more mindful of where your money goes, and if you can only use the cash you have a visible and more tangible idea. This doesn’t have to include automated monthly bills like your utilities—but it should include electronic transactions such as in-app spending, digital downloads, streaming services, non-essential monthly subscriptions, and more.

Finally, sit down once a week and take a look at where every penny you’ve spent has gone. If it helps use a daily spending app or journal so you can visualize your spending.

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