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Trick Yourself Into Saving Money

Buying things when they’re on sale is a great way to avoid overspending. But unless you are diligent to take the difference between the regular price and the sale price and actually deposit that into a savings account, are you really saving money?

Nope. You’re just spending less. And you can “spend less” right through your entire paycheck. 

us currency rolled in jar

While being careful to keep spending under control is admirable, it’s easy to fool yourself into believing that you’re a money-saving genius, when in truth you’re just spending all that you earn, wishing you made enough money to save some of it.

Getting started with actual savings—and by that, I mean money that is put away in a safe place—can be difficult if you have a spending habit, a small budget or some of each. The way to remove the pain is to trick yourself into thinking you’re not really saving that much. Check out these tricks and get started today.

Call it a bill. This may sound silly but just go with me here. Create a new monthly bill that you are obligated to pay and call it “Paying Myself First.” Make it look like an invoice of $5, billed to you. I don’t care how little money you earn or how poor you believe that you are. Anyone who really wants to start saving has $5 they can devote to the effort. Put this tiny bill at the top—ahead of the rent, food or phone bill. Your smallest bill will soon become your favorite.

Save all $1 and $5 bills. Whenever you get a $1 or $5 bill, save it. Make this your new personal rule. You do not spend $1 or $5 bills. Ever. Just find a cool place to stash them and don’t look back. You are going to be amazed how quickly your savings will add up–especially if you receive tips in your job. Can’t do both denominations? Then start by saving $1 bills. 

Save all coins. This could be an alternative or addition to saving paper currency. Think this couldn’t possibly turn into anything useful? Think again! In just one year my hubs and I saved more than $1,100 in coins. We were shocked because it was so painless. Try it but make sure you are diligent. The rule: Do not spend coins, period.

Make payments to yourself. Once you make that last car, credit-card or other payment, celebrate lightly, then just keep making the same payments every month. But instead of making them to the finance company or bank, make them to yourself—straight into your savings account. After all, you’re used to not having that money to spend, so don’t change anything. Tricky, no?

Coupon savings. As you leave the supermarket so proud of yourself for all of your coupon savings, make a note of the exact amount you “saved.” Now really save it by depositing that exact amount into a savings envelope, drawer or account.

52-week challenge. This is cool. You’ll need a yearly calendar to pull off this trick. Look at each week’s placement in a year. Now save the number of dollars during that week that corresponds to its placement in the year.

For example, the first week in January you save $1 because it’s Week One. The second week in January you save $2 and so on. By the end of January, you will have saved $10 ($1 +$2 +$3 + $4=$10).

Then the first week in February you must save $5 because it is Week 5  of the year. Continue without fail throughout the year and you will have saved more than $1,300 and that’s a good start.

Another way to do this is to flip the plan so that you determine to save $52 in the Week 1, $51 in Week 2 and so on until you reach Week 52 where you save $1. This puts the “heavy lifting” on the front end when your enthusiasm and determination are at a fever pitch.

But even better yet, in no time, provided you stick to it, you will have created a saving habit. You’ll be well on your way to building a respectable emergency fund!

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5 replies
  1. Guest
    Guest says:

    Wells Fargo has “A Way to Save” program that places $1 into that account every time I pay a bill or use my debit card. It’s a great way to save for Christmas and it’s painless.

  2. Carol Gesalman
    Carol Gesalman says:

    When I paid off my car, I continued putting the car payments in my savings. My car is now 18 years old, and my “car payments” have allowed me to make many trips in and out of the U.S. and I still have enough money to buy a new car with cash should I so desire.

  3. Carol Gesalman
    Carol Gesalman says:

    When my car was paid off, I continued to deposit the car payment in my savings. My car is now 18 years old and still running fine. I have used my “car payments” for many trips in and out of the U.S. and I still have enough money in my savings to buy a car with cash should I decide to do so.

  4. Emily Booth
    Emily Booth says:

    I save all loose change and deposit them at the bank 1X or 2X a year. It’s fun to see how it has added up over the years. I also use this savings account for the odd small unexpected check. I also give myself an allowance of $120 every week. I started doing this the last few years I worked and continue doing this during retirement. My goal is to have $$ left over at the end of the week which I save. There are 4 times during the year where there are 5 Fridays instead of 4 so I save this $$ to make $120 for that 5th Friday. But, the most important thing I learned from Mary is to save 10% for tithes and 10% for emergencies. This comes first before anything. Tithing at the end of the year makes me feel rich! LOL Saving 10% for emergencies is wonderful. I had 3 emergencies this past year: car bumper repair, carpet beetle infestation (boy, was this $$$) and replacement of a refrigerator that started to produce smoke (the motherboard). All paid for with cash and I didn’t even use up my emergency fund. Thank you Mary! Peace, prosperity & joy for the New Year!

  5. Jo
    Jo says:

    Not sure where I read this, maybe you Mary. Save $1 bills with a specific letter on the bill. I save those corresponding to the first initial of my first name. When I reach 50, off to the bank I go to get a 50 $ bill. Amazing how difficult it is to spend those 50s!


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