In a study conducted by Brad Klontz, a certified financial planner and financial psychologist, it has been found that emotionally connecting to a financial goal can significantly increase a person’s ability to save money. Savings rates can soar by up to 73 percent when individuals fully and emotionally engage with why they are setting money aside. Klontz explains that our instinct to live in the present goes against our biology, and changing our behavior and saving for the future takes effort. However, by leveraging enthusiasm over something they want, individuals can use it as motivation to achieve their financial goals. This article explores the power of emotionally connecting to financial goals and provides practical advice on how to do so effectively.
The Simple Method that Helps People Increase Their Savings by up to 73 Percent
Saving money can be a challenge for many individuals, especially when faced with the temptations of the present. However, there is a simple method that has been proven to help people increase their savings by up to 73 percent. This method involves creating an emotional connection to financial goals through the use of visualization techniques, such as vision boards. By understanding the power of visualization and its ability to spark emotional responses, individuals can break down their goals into manageable steps and keep them top of mind. In this article, we will explore the various aspects of this method and provide examples of how it can be used to achieve financial success.
Emotional Connection to Financial Goals
A study conducted by Brad Klontz, a certified financial planner and financial psychologist, has shown that emotionally connecting to a financial goal can significantly boost savings rates. In the study, participants who fully and emotionally engaged in why they were setting money aside saw their savings rates increase by as much as 73 percent. This highlights the importance of understanding the underlying motivations for saving and the impact it can have on one’s ability to save.
Why Living in the Present Makes Saving Difficult
Living in the present is part of our genetics, as it helped our species survive. However, when it comes to saving for the future, this survival instinct can work against us. Saving requires us to go against our biology and resist immediate gratification. Additionally, the status quo bias, which is our tendency to keep things the way they are, makes it difficult to change our spending habits. Breaking free from these instincts and habits is crucial in order to achieve our financial goals.
The Power of Visualization
There is scientific backing for the idea that envisioning our goals can have a significant impact on our ability to achieve them. By leveraging our enthusiasm and creating a visual representation of our goals, we can enhance our motivation and focus. Visualization allows us to see ourselves achieving our goals, which can fuel our determination to save and take the necessary steps to make those goals a reality. Using visual cues, such as vision boards, can serve as constant reminders of our goals and keep them at the forefront of our minds.
Examples of Using Vision Boards to Achieve Goals
Vision boards have been widely used as a visualization tool to help individuals achieve their goals. One real-life example is Jackie Beck, a personal finance blogger who used a vision board to plan and realize her dream trip to Africa. Beck created a digital vision board featuring pictures of the places she wanted to visit, which served as a constant reminder of her goal. By regularly viewing and engaging with her vision board, she was able to stay focused and motivated, eventually turning her dream into a reality.
Understanding What Truly Makes You Happy
Before creating a vision board or setting financial goals, it is important to have clarity about what truly makes you happy. Many individuals find themselves entangled in debt and impulse purchases because they have lost sight of their true desires. By searching for images that evoke emotional responses and speak to your genuine desires, you can gain a clearer understanding of what will truly make you happy. This clarity will serve as a foundation for your financial goals and provide the necessary motivation to save.
Using Images to Spark Emotional Responses
Images can be powerful tools for evoking emotional responses and connecting with our desires. When creating a vision board, it is important to find images that truly resonate with you and make you feel something. Personalizing your vision board by choosing images that reflect your emotions can help you stay motivated and focused on your goals. Whether it’s images of relaxation in retirement or the feeling of accomplishment after paying off debt, finding the right visual cues can have a profound impact on your ability to save.
The Law of Attraction and Positive Thinking
The law of attraction suggests that what we focus on, we attract into our lives. By focusing on our goals and envisioning ourselves achieving them, we can attract the opportunities and resources that will help us make those goals a reality. Positive thinking plays a crucial role in this process, as it allows us to maintain a mindset of success and abundance. By adopting a positive outlook and believing in our ability to achieve our financial goals, we can overcome obstacles and stay committed to saving.
The Process of Creating a Vision Board
Creating a vision board involves several steps that can help break down goals into manageable parts. First, it is important to identify specific goals and understand why they matter to you. This clarity will provide the foundation for creating a detailed vision. Next, you can begin researching and planning, determining the steps needed to achieve your goals. As you gather images and visualize your goals, you can use visualization techniques to enhance your focus and motivation. Finally, it is crucial to decide on a timeframe for achieving your goals, allowing you to create a sense of urgency and stay on track.
Keeping Goals Top of Mind with Vision Boards
Once you have created a vision board, it is essential to keep it in a prominent place where you will see it regularly. Whether it’s on your fridge, desk, or inside your medicine cabinet, having your vision board in sight serves as a constant reminder of your goals. Regularly reviewing and engaging with your vision board can help you stay motivated and avoid neglecting your goals. By incorporating vision board reminders into your daily routine, you can keep your goals top of mind and ensure that you are taking consistent steps towards achieving them.
In conclusion, the simple method of using visualization techniques, such as vision boards, can have a significant impact on increasing savings rates. By creating an emotional connection to financial goals, understanding the power of visualization, and utilizing the law of attraction and positive thinking, individuals can break down their goals into manageable steps and keep them top of mind. By incorporating the process of creating a vision board and regularly engaging with it, individuals can enhance their motivation and focus, leading to increased savings and financial success.
