“Trick Yourself into Saving.” That was the title of a recent magazine article that appeared in one of those popular magazines that are geared toward women. The subhead promised to show readers how they could use mind games against themselves to make saving money painless and fun. Seriously?
I’m all for tips about saving money, but I really think that trying to fool yourself into doing it isn’t the way to go. You want to establish good lifelong money habits, not quick tricky fixes that will save you money in spite of yourself. Badly played national magazine for women; badly played. Saving money should be purposeful and with set goals that can be met. It doesn’t have to be hard to save money, which this article implies, you just have to be ready to be serious about it.
I think I know why they did it. We are all looking to save money these days. A bad economy, rising food and gas prices and looming increase in taxes have us all panicked. Plus, a catchy title sells magazines (and blog posts, I’m not exempt). As a writer, I know this. As a frugal guru, it leaves a bad taste in my mouth.
Some of the tips are practical, but with a twist. For example, one trick is to purchase discounted gift cards (such as to the movie theater) and then use them to shop for your everyday needs. Okay, sounds good so far, but then you are supposed to take the percentage you saved by buying the card and put it in your piggy bank. If you are having a hard time getting around to saving, I’m thinking you aren’t going to do the second step anyway. Besides, there are better ways to save money on going to the movies.
Since a large percentage of gift cards aren’t ever redeemed, you may even wind up losing money with this gift card trick.
Here is a little “trick” tip from me that I think makes more sense. Pay yourself first with direct deposit into a savings account. Pick an amount your are comfortable with, and have it go directly into the account, so you never see it.