We Write About Saving Money: How We Nudge Ourselves to Save

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Late one night, while looking at a Container Store cart on my phone, I did something I had heard about many times but never actually tried. Rather than spending $200 on storage containers I did not really need, I moved that money into my savings account.

Normally, that kind of restraint is hard because of a very real psychological effect known as present bias: We tend to respond more strongly to rewards for our current selves than for the future version of ourselves.

Studies also suggest that people often picture their future self as if it were a stranger, which makes it harder to care about that person than about who you are right now. But in that moment, I pictured my near-future self using that $200 for a vacation next summer. I wanted the trip more than I wanted the boxes, so I closed out of the cart.

That was a savings trick in action: choose a goal that helps you connect with your future self. With that realization in mind, I asked other NerdWallet colleagues to share the money-saving habits they use in real life. Their ideas may offer some inspiration the next time you are tempted to spend.

The Nerds who procrastinate, in a good way

• Kimberly Palmer, senior writer and spokesperson: I leave nonessential items in my online cart for at least 24 hours before buying them. It usually reminds me I do not need most of them. I also told my children about the rule, and it has helped reduce their requests — or at least taught them they need to wait.
• Karen Gaudette Brewer, head of content: I am also a leave-it-in-the-cart person. I wait until something is at least 30% off before I act, and ideally I want 40% to 50% off.
• Julie Myhre-Nunes, managing editor: When I shop online, I put something in my cart and wait 24 to 48 hours. After that, I either decide it is a waste of money or just an impulse buy and remove it from the cart, or I decide I still want it and purchase it — but the first outcome happens 99% of the time.

Why it works: “Waiting 1 to 2 days allows me to take the emotion out of purchasing. I no longer succumb to marketing or sales, and instead make spending decisions based on what my family and I actually need or can use.” — Julie, putting it better than I could.

The Nerds who know the secrets of the library

• Caitlin Constantine, managing editor: Books are my one true shopping weakness, and I have found a way to enjoy that feeling without spending a lot: I go to the library, browse the stacks for interesting titles, and check out several books. Even if I do not read every one, I still help the library’s circulation numbers, so it feels like a win-win.
• Spencer Tierney, senior writer: I will second Caitlin Constantine’s point that books are the main weakness. For older or less popular books, I try to find them through one of the four libraries I use on Libby, the library e-book app. New books can have a waitlist that lasts months, so I have to plan ahead.

Why it works: There is nothing mysterious about it: free stuff is appealing. Libraries also offer more than books, including movies, magazine subscriptions, games, classes and theater tickets.

The Nerd who sets it and forgets it

• Pamela de la Fuente, managing editor: We always tell people to automate savings, and I do that with my high-yield savings account. But after hearing Dasha Kennedy, the founder behind “The Broke Black Girl,” discuss on the Smart Money podcast that investing even a small amount on a recurring basis can help future you, I set up a small automatic deposit into my robo-advisor.

Why it works: You only have to decide once, rather than repeatedly. And if you start early enough, you may avoid becoming part of the group of Americans who wish they had begun investing sooner, according to a NerdWallet survey.

The Nerds who find workarounds

• Athena Cocoves, managing editor: To reduce food delivery spending, I started cooking when I feel like it instead of when I think I am supposed to. I use my free will and make soup late at night. It sounds simpler than it feels, but it has made a big difference in my budget. It would help even more if I did not also treat myself to fancy spices and vinegars, but everyone deserves a little splurge.
• Ryan Brady, lead writer: My wife uses a T-Mobile freebie that gives us a discount on DoorDash orders, but she applies it to groceries from Aldi instead of takeout. Aldi is farther from us, while Publix is right across the street but more expensive. That saves us money on the groceries themselves and also helps keep us from making impulse purchases, which we often do when shopping in person.

Why it works: You do not have to rely on willpower if you can avoid the situation that tempts you to spend.

The Nerd who does all the things

Kenley Young, managing editor: I use credit cards for most purchases to earn rewards, but I have also taken away a lot from this article.

• I have started using library resources more, which saves me money on things like monthly subscriptions.
• I have also negotiated down several bills: refinanced my car loan, gotten cheaper homeowners insurance, chosen a little less auto coverage for a lower premium, and haggled online with everyone from Xfinity and SiriusXM to my local newspaper until they all offered me a discount.
• On top of that, I have taken on some home improvement projects expecting lower utility bills. A plumber finally fixed our toilet, which lowered the water bill, and I even installed solar panels.
• Finally, my offline skill — playing live music — has turned into a reliable side hustle. I play eight to 10 gigs a month, and beyond my base pay, I also get tips, free food and beer.

Why it works: Because you are Kenley and you put in a lot of effort.

You do not need to be Kenley, though, to discover a savings habit that fits your personality, your finances and even your musical abilities. The key is to try something. Pick the strategy that appeals to you most and see how it goes. Which one will you test first?

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