Want to Save More? Rewire Your Brain

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Rewire BrainFind out how to spend less money with this interesting article from Savvy Sugar.

Saving is actually pretty simple: As long as your ventral striatum and medial prefrontal cortex are psyched about future rewards, you’re good. Those are apparently the parts of your brain that are stimulated when it comes to delaying gratification, says a New York University study. A recent Daily Beast article delved into the psyche of frugality and pinpointed why some are more inclined to saving:

“Psychologists and behavioral economists, meanwhile, are identifying the personality types and other traits that distinguish savers from spenders, showing that people who aren’t good savers are neither stupid nor irrational—but often simply don’t accurately foresee the consequences of not saving. Rewire the brain to find pleasure in future rewards, and you’re on the path to a future you really want.”

Apparently, there are a couple of things you can do to rewire your brain. One of the less mainstream ways includes zapping the brain regions that affect gratification with weak electrical currents. The zaps are noninvasive and can increase or shut down activity in specific parts of your brain.

Not everyone wants their head zapped, so scientists have started researching more realistic ways to encourage your brain to embrace saving. Experts have found that since short-term memory is linked to planning for or envisioning the future, training your memory can build up a desire to save. Other suggestions include practicing delayed gratification and working on having a better social support network and increasing happiness. A positive mindset does wonders for decision-making and developing a long-term view about managing your finances.

To read this Savvy Sugar post in its original form, head over to Savvy Sugar.

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