Whether you are saving for one big purchase or simply as a means of combating debt, you deserve a reward for your efforts. If you have ever played games on social media sites, where you effectively click buttons for six hours, you will appreciate this article. The developers of those games use psychology to keep you hooked. They are based on an effort and reward system, which keeps the player motivated to continue in order to receive their reward.
Saving is just like those games, except for most of us, it is often a long time before we see a reward. So why not have a little fun with your saving, by setting yourself challenges? It is difficult to appreciate the results of your hard work when the goal is in the distant future. By setting incremental goals, with a reward at the end, you will feel that your efforts are worth it and you will also notice an increase in your motivation.
So, let’s say that you set a target of $5,000 dollars and you reach it within your estimated time frame. Now you can reward yourself. Here’s a tip: create two dates; one is your reward date and the other is your ultimate deadline. If you reach your target by the reward date, you can treat yourself to a night out or a similar luxury. Obviously the reward should reflect the target amount, so if you are aiming to save $100 dollars, don’t splash out on a foreign holiday as your reward or anything else that will eat up a large chunk of the money saved.
This simple idea will make saving fun, rewarding and worth the effort. Get as creative with it as you like, as long as the end results are the same.
Helping Canadians Get Out of Debt