Artificial Deprivation

When you can’t have something, you want it more. This fact of human nature can be exploited to save you money.

Personal Example:
Despite having built up a nice amount of cash from several businesses in my early college years, I would subconsciously deprive myself of money, making me “virtually broke” so I didn’t spend too much money.

I did this by just pretending I didn’t have any money in the bank. Unfortunately this method worked a little too well. I would only spend about $60 a month on entertainment, not a lot for a socially active college student.

My Remedy: The spending account.

I created another free account with BankOfAmerica and labeled it my Spending Account. This is the money I designate for spending on anything I want. This money is MEANT to be spent and not saved. It kept me from spending too much money, but also kept me from living like a total cheapass.

If I don’t have enough in the spending account, I don’t buy it.

Thanks to this method, I have a healthy amount of money to spend, and I don’t take it overboard.


After this Financial Times article, I am now mentioned in 4 out of the 5 news sources needed to meet one of my medium term goals.