"The 50 euro rule": This is how you will save a lot of money without even realizing it

The €50 rule is a way to fill your pockets with money in 2023, as saving is hard to come by today

yparchei tropos na gemiseis tis tsepes soy me lefta to 2023 dokimase ton kanona toy 50eyroy 50 EURO RULE, lefta

Ο rule of 50 euros it's a way to fill your pockets with money, in 2023, as saving is hard to come by these days.

This is not another weekly or monthly savings method, but something new that can be done if circumstances permit.

What exactly is the €50 rule and the corresponding studies

As psychologist Marie Gresham reports, those who are used to having a €50 or €100 note in their wallet will think twice before wasting it, as they think of it as something very special and big.

Most people are more hesitant to spend 50 euros than 10 euros or 20 euros.

“These correlations are not always rational, so the resulting decisions do not always pay off. But we tend to treat money differently depending on how we categorize it," Gresham told CNBC.

Let's say you are given either a €50 bill or five €10 bills. Because we tend to associate smaller bills with various purchases, you're more likely to spend the money if you have those five €10 notes with you than if you have one €50 note with you, according to the research paper, which was published in The Journal of Consumer Research.

The study in question showed that a group of students who were given four coins ended up buying more candy than students who received the same amount of paper money.

So, if you have coins, 10 euros, 20 euros, try to make them "fat" and keep them as long as possible, buying only the really necessary things.

It is possible that at the end of the month, you will still manage to have that 50 in your pocket and it may become a more frequent phenomenon, but without becoming stingy and not spoiling at all money.


via: Enimerotiko