How To Save Money Like A Madman

Save Money Like a Madman

Are you a savings madman?

Let’s take your savings to the next level.

If you’re like me, you have the knowledge and tools to help you save more money

Still, like me, you may occasionally lack the mental edge to take your money saving abilities to the next level. Heck, sometimes life just gets in the way. We’re all human, right?

In this post I’m going to challenge you to consider changing your mindset about saving money. Thus, increasing your chances of meeting your savings goals and more quickly attaining financial freedom.

Visualize Your Savings Success

Whenever I’m faced with a tough challenge, one of the techniques I use to help me overcome is creative visualization. I try and visualize myself eliminating hurdles in my life and achieving success.

For instance, when I’m going for a jog and not feeling up to it, I visualize myself as an elite athlete being able to blaze around a track and achieve a runner’s high. When thinking about my debt, I see myself driving a big snow-plow pushing my debt snowball down a hill and destroying all debts and high-interest along the way. Try it. Pick a problem you’re currently faced with and visualize yourself, in an inspiring or even funny way, eliminating your problem.

It may sound silly, but another visualization to use it to see yourself as a madman, possessed with supernatural powers to be used towards destroying your problems. I like to visualize Gene Wilder from Young Frankenstein.

It’s this slightly crazed attitude towards your savings goals that can take you from mediocre to excellence. From little savings and hope for the future, to a hefty savings balance and confidence towards meeting your end goals.

Become a Money Saving Madman

Beyond the visualization and psychobabble, try these practical tips for acting like a madman (or mad-woman) with your savings:

Get Paranoid – Like the madman, you’ve got to believe that “they are out to get you!” By “they”, I mean life’s emergencies and set-backs: job losses, higher taxes in retirement, medical problems, etc. Channel your own fear and uncertainty into action. Know the risks involved with your future and take the steps to minimize them.

Be Intense – I’ve found that to truly create success with my life (whether physically, spiritually, or financially) there needs to be a time when I’m focused intensely on the subject at hand. To get serious madman-like intensity towards your savings goals you need to surround yourself with the idea of saving more of your money. I do this by reading every personal finance blog and book I can get my hands on, carefully studying others who’ve had success in saving, and by taking the time to fully understanding where my money is coming from and going to.

Find a Life Passion For Saving – Over time, your intensity will turn into a passion. It will become a never-ending intensity. Not only will you be taking in more and more saving knowledge, but you’ll be sharing it and involving others, creating a circle of accountability in your life.

Develop a Sixth Sense – A savings madman is so focused and intent on his savings goals that he begins to develop a sixth sense about how to properly handle every financial transaction in his life. This sixth sense materializes itself in increased opportunities for earning and saving and decreased unnecessary spending.

Use the Right Tools – Lastly, the savings madman is always tinkering with the best tools in his savings workshop. Automatic savings, high-interest savings accounts, and tax-deferred retirement savings accounts (401Ks and IRAs) are just a few that come to mind that have been effective for me.

Do you have an inner madman? If so, I challenge you to visualize him and unleash him on your savings goals and begin your crazed path towards a solid financial future.

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Last Edited: August 3, 2011 @ 11:13 am
About Philip Taylor

Philip Taylor, aka "PT", is a husband and father of two. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.