Giving yourself more gifts might just be what you need to get into better saving habits.
Rewarding yourself can be a powerful tool to modify your spending habits and save more for your future, according to Charles Duhigg, author of the book “The Power of Habit.”
Working toward large financial goals that aren’t in the near future can be difficult for many, Duhigg said.
“If you are trying to save money, it is essential that you come up with some weekly routine where you reward yourself,” Duhigg added. Rewards can include a small treat or even a fun activity that doesn’t involve money.
Watch this video to learn the most effective ways to reward yourself and for a breakdown on how treating yourself can help you put three to four times more money into savings.
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.