Your thinking can sometimes be the largest obstacle.

Getting your brain on board can often be half the battle for saving money. Almost everyone has made financial decisions against their better judgment, so it's difficult to resist the temptation to spend money and maintain the self-discipline to save consistently.

Changing your spending patterns to more constructive ones will help you reduce impulsive purchases, boost your savings, and get closer to your financial objectives. The following advice will help you think more positively about saving and spending:

1. Avoid storing card information on your devices.
Numerous browsers, apps, and websites offer the option to save your Atm card details for quicker and easier checkouts later. However, this convenience can lead to impulsive buying, making it easier to make purchases without fully considering whether you can afford or truly need the item.

Although it may seem insignificant, the extra time it takes to locate your wallet and input your card details can give you a chance to pause and reconsider the purchase. Additionally, saving your payment information online exposes you to a higher risk of fraud and identity theft in the event of a data breach. So, when you're asked to save your payment details, decline. This small action could help curb impulse spending and protect your personal information.

2. make to cash payments
Research has found that people tend to feel less emotional discomfort when paying with atm cards compared to cash, which can lead to overspending. This is because the "pain of paying" is lessened when using cards, as the payment doesn't feel immediate or real. One effective way to reduce overspending is to use cash. While it might not always be possible—since not every store accepts cash—paying with cash whenever you can helps make the spending more tangible and can make you more mindful of the money leaving your wallet.

3. Consider the cost in terms of your working hours, not just money
When you buy something you want, the price in naira might seem reasonable at first. However, if you shift your perspective and think about how many hours you would need to work to earn that amount, you might reconsider. For instance, if you break it down by hours, you might realize that those shoes cost you 10 hours of work. If you already have a closet full of perfectly good shoes, spending an entire day's wages on another pair may not feel as worthwhile.

4. Set up automatic savings
Automating your savings involves setting aside a portion of your income to be transferred automatically to a savings or investment account without you having to take any action. For example, you could arrange for your employer to deposit a percentage of your paycheck into your retirement fund, or set up a monthly transfer from your checking account to your savings. This strategy helps combat "present bias" — the tendency to prioritize immediate gratification over long-term benefits, like spending money now instead of saving for emergencies or retirement.

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5. Use the 30-day savings rule
Implementing a cooling-off period when you're tempted to make an unnecessary purchase can help you rethink your spending decisions. The 30-day savings rule is a strategy designed to curb impulse buying and encourage thoughtful saving. When you feel the urge to buy something non-essential, wait for 30 days before making the purchase. During this time, you can assess how the item fits into your budget, search for discounts, or even realize that you don’t need it. While this might not apply to every purchase, it can be especially useful for larger expenses. You could set a spending limit, s and commit to waiting 30 days before buying anything over that amount.

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