7 Saving Tips

Humans are programmed for self-preservation. Ironically, that doesn’t mean we’re instinctively inclined toward wealth preservation.

Sure, some people are inveterate savers — reveling in their ability to ignore consumerism and sock away 30% of their gross income. But then there are the rest of us, who manage to sock away just 4% of our income, according to recent savings rate figures.

We all know better. We might even think, right as we open our wallets, “I really should max out my IRA before I buy this dress/tool/Clapper, but I … can’t … stop …”

If consumption control is a problem for you, or you just haven’t developed the habit of saving, here are some tricks you can use to increase your net worth.

Trick No. 1: Hide it before you can spend it.Out of sight is out of mind. When it comes to money, out of sight means in the bank — and in sight eventually means out of the wallet.

So, put your money out of reach before you can spend it. [Read the full article]

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