With most people struggling with their finances these days and inflation having skyrocketed prices, now is the right time to learn and especially apply gold "rule of 50 euros".
If you want to see your account full, you only have to follow a simple "trick" that will prevent you from waste.
As psychologist Marie Gresham reports, those who are used to having a 50 or 100 euro note in their wallet they will think twice before wasting it as they have it in their mind as something very special and big.
Something that is not so true in the case of a 10 or 20 euro banknote.
“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.
"The €50 rule": This is the trick to putting money aside
Let's say you are given either a €50 bill or five €10 bills.
Having a tendency to associate smaller denominations with various markets, you are 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 a research paper published in The Journal of Consumer Research.
A group of students given four coins ended up buying more candy than students given the same amount of paper money, according to the study.
So, if you have coins, 10 euros and 20 euros, try to make them "fat". And of course keep them for as long as possible, buying only the products you really need.
At the end of the month, you will probably find that you managed to keep your money aside.
via: Enimerotiko