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Want To Save More? Just Put Your Mind To It!

February 27, 2018 Most of us want to save more money. We know saving is key to making our long-term goals happen. And we have such good intentions. But going from good intentions to actually saving? That’s where things can get tricky. So, what’s a struggling saver supposed to do? We have an idea: Give visualization a try. Here’s how visualization works. Step 1. Visualize achieving your goal.
Imagine whatever it is you’re saving money for: your child in their cap and gown or sitting on the dock at your retirement lake house. And it’s not just important to link your goal to an image. For instance, if people saw a digitally altered image of their older self, it was easier for them to save for retirement1.  So, connect the circa 2040 you with your 2022 self and it will be easier to pass up a daily latte to build up a nice contribution to your savings.   Step 2. Think about how saving for that achievement makes you feel.
Next, link your goal with how you feel when you’re saving to achieve it. There’s no right or wrong emotion to feel. Maybe you feel relieved knowing you’re taking a step toward a better retirement. Or smug that you’re beating the national odds because you’re more prepared than the average person. Step 3.  Let your neurons take over.
The brain is a truly amazing thing — and scientists are just beginning to have the faintest understanding of how it works. One thing they’re finding: When you imagine yourself doing something, the pathways in your brain that you need to accomplish that goal will actually get stronger2. How cool is that? Step 4. Repeat as necessary.
Keep drawing the connection between your future goal-achieving you and your current self. Put up a picture of your child wearing a sweatshirt from their dream college. Print out pictures of your ideal retirement or vacation spot.  Put those pictures somewhere you’ll see them often and give yourself permission to sit and imagine making your dreams happen. Hey, you’re not frittering away your day! You’re owning your financial future! Did you know it’s ? Want to take the benefits of visualization to the next level? Here’s an idea: schedule automatic deposits into your savings. Save a little bit every paycheck; then picture your dreams coming true. 1.  2.  You might also be interested in Q: Our daughter was just born. What should we be thinking about financially? A: Your question around what to think about money-wise shows great parental wisdom. A good start is to envision what you hope she will feel in her own relationship with money in her lifetime. No one wants their kids to be fearful or ill-equipped to handle their money, but we need to envision what we do want for them if we want them to be successful. Picture your daughter responsibly handling money with comfort, contentment, enjoyment and confidence, and take actions to help her make that happen. Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. It’s not every day that someone gives you hundreds, or maybe even thousands, of dollars for (seemingly) no reason. That’s what makes getting a tax return so exciting. So before that much-anticipated check arrives, stop and consider what you should do with your tax refund, as well as what you want to do. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Caring for your furry friends can add up! Learn how to manage the costs of owning a pet & unwanted expenses without compromising on quality for your animal. As you prepare for this new chapter of your life as a parent, make sure you are saving to cover the costs of having a baby with our financial planning checklist. Wondering how to improve your finances? Take our one-week money saving challenge and be on your way to a brighter financial future. #MoneySmartsChallenge Using less energy is good for the environment and it can help you save money on your monthly bills. Try these tips to reduce your energy use around the house. You’ve got a savings account. Good for you! But have you ever stopped to wonder if you have the right savings account? Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA