The safest way to double your money is to fold it over once and put it in your pocket. - Kin Hubbard
If only it were that easy! But with that image in your head, let’s talk about saving and manifesting your financial goals.
Take for instance the 52-week money-saving challenge. Save S$1 in the first week and work your way up to the 52nd week where you put aside $52. At the end of this challenge, you would have put aside a whopping $1,378!
Another fun challenge is the 100-envelope challenge where you label your envelopes from 1 to 100 and stash away the amount that corresponds to the envelope you pick each day. Stick to it and save up to $5,000 over 100 days.
So, what do these challenges have to do with manifesting?
Well, numerous studies show that visualising your goal is a key part of your success. When we can see our desired outcome in our mind’s eye, we begin to think of ways to pursue our goal.
Arnold Schwarzenegger is a great believer of the importance of visualisation, but also the commitment to follow through.
Inspired by a childhood hero - Roy “Reg” Park who was Mr Universe and also starred as Hercules, Arnold decided from a young age that he was going to follow in the former’s footsteps and become a body-building champion and movie star. The power of his vision played a significant role in helping him look past jibes by his peers and commit to gruelling workouts. His career trajectory speaks to the power of his vision.
At GXS Bank, we’ve incorporated this psychological principle into the Saving Pockets feature of our GXS Savings Account, which allows customers to allocate funds and incorporate techniques such as visualisation and smart nudges to develop and sustain their saving habit.
What does knowing this principle mean for you as you start on your saving journey?
- Have a clear vision of where you want to be at the end of this journey. Make it so crystal clear you know exactly what you are wearing and how you are feeling as you achieve this goal.
- Plot the steps that will get you there. Make sure these are actionable and realistic steps.
- Make the commitment!
Remember, you don’t have to be bound by a tight set of rules when it comes to savings especially if you find yourself unable to stick to it because it can result in frustration and giving up.
In that same vein, the ideas we’ve highlighted here may not be tailored to your specific saving needs! But now that you know about them, maybe you can find one that suits you. After all, savings are important so find the method that best suits you and stick to it.
Let us know if this was useful! Reach out to firstname.lastname@example.org with feedback and stories you might be interested in.
Psst! Here's something else you should know: