How to Trick Ourselves to Save Money


With all of our daily needs, saving can be very hard to do. We even need special tricks to get us save some money regularly.

Here are some ways you can trick yourself into saving:

Auto debit from your account

“I use this auto-transfer feature from my payroll account to my savings account for my education fund. If I don’t do this, my money will be gone immediately,” says Fitri, 31, a corporate communications staff at a government bank.

If you are an employee or someone who receives salary every month, having an auto-debit system from your payroll account to your savings account can be very effective as it keeps the money far from your reach. Automating also means that saving does not depend on your memory or self-control.

You can activate the auto-transfer system free by using internet banking, or going to the bank. The admin fee for this feature is not expensive, around Rp 3,000.

Buy assets immediately

“I always buy mutual funds right away after I receive my monthly salary. Then I just leave it there until it’s time for me to do some reviews. I also buy gold bars occasionally,” says Desi, 34, an employee of a multinational company in Jakarta.

One way to trick yourself into saving money is by converting it into assets. Assets do not have to be land or propertyMutual funds, small pieces of gold bars or stocks can be assets that we buy immediately after we receive our salary or business profit. One can even set-up automatic transfer for purchasing mutual funds.

Track your expenses

We often unknowingly spend too much money on unnecessary things, and then wonder where all the money has gone. Tracking every expense, even the seemingly small items can reveal how and what we prioritize.

“I am used to tracking all expenses, even things like bus tickets, when my husband received a scholarship in Australia and we moved there. We were surprised to find that the biggest expense was on small things such as snacks,” says Tika, 33, an accessory maker .

Putting small changes in a piggy bank

Who says the piggy bank is extinct?

“At first, it felt really small because we would only put in Rp 5,000 or less. But after continuously saving in our piggy bank, the result is pretty good. Sometimes I don’t notice the small money that is only one or two thousand, but it turned out to be big,” says Puspa, 33, an assistant lecturer at a government university.

Savings in her piggy bank now reaches Rp 100,000-Rp 200,000 every month, which she then uses to buy mutual funds or other investment product that suits her risk profile.

Read also: How to Save by Quitting Bad Habits

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