Seeing is believing: Use these 7 visualization techniques to help grow your savings

Studies have shown how athletes use visualization to push their bodies and break records. And picturing themselves doing something has also helped people recovering from strokes regain movement in their limbs. The mind-body connection is a very powerful tool. Writing out your budget and savings goals each month may feel like a chore, but visualizing saving money can help you form great saving habits.

In simple terms, visualizing is when you define a goal and then imagine yourself reaching it. Visualization takes nothing more than closing your eyes or grabbing a pen and paper.  The key is to push yourself to be as detailed as possible. When you visualize, don’t place limitations on your goals — but you should be very specific about how you would get there.

The reason why visualization works is because it encourages internal motivation that helps us map out and navigate the steps necessary to succeed. And through constant visualization of your goals, your brain practices carrying out the necessary tasks, which will make them easier to do in real life.

While you don’t need much to envision your goals, here are some more tangible ways you can incorporate visualizing into your savings strategies.

The first step? Search the web or an old magazine and discover the images that represent your saving goals. Once you find the pictures that light up your eyes, post them somewhere you see frequently — whether it’s uploading a picture as your computer screensaver or hanging one on your fridge or bathroom mirror. Repeatedly seeing these pictures will trigger you to visualize and stay inspired about saving.

Smart savings tools to the rescue! Our buckets tool lets you name different “envelopes” within your Ally Bank  Online Savings Account — one bucket for each of your goals. Besides having a clearer sense of how you’re progressing towards your goal, adding money to your “Roomba fund” bucket is a lot more motivating than transferring it into a generic savings account.

This may sound like the same strategy as above, but we promise it’s different! We know you’re busy, but try to add a minute or two to your day where you stop everything you’re doing and think about what it looks like to save. Close your eyes and imagine the process you will have to go through to deposit money into your savings account. Think about how you plan to reach your goals — whether that’s depositing a certain amount each week or using recurring transfers to put $100 of each paycheck into savings — and imagine yourself doing just that. These visualizations reinforce confidence in your own perception of your ability to save and help you follow through on your saving commitments.

If you practice this a couple times throughout the day, it will turn into a habit and you will be able to make a well-informed decision — whether it’s about a fresh juice or those sunglasses you really want. Understanding how each purchase will affect your life in the long run can help you decipher when you really need that pick-me-up, and when you can go without it. When you change your mindset on spending, it can help you feel more inclined to save.

For example — instead of saying “I want to save $20,000 in five years,” write, “I am going to save $333.33 dollars each month for the next five years, so that I can build an emergency fund of $20,000. I am saving this money, so I can have the peace of mind knowing that I have a financial cushion in case I am surprised with an unexpected expense. This goal will help me achieve a new level of financial freedom that I have been wanting for a long time.”

Peer pressure can often encourage you to go out for dinner with your friends or spend extra money on entertainment that’s not in your budget. While everyone should have fun, always saying yes can force you to put your savings goals on hold. But saying no to the people you love can be a hard task to handle.

The best way to approach a situation like this is to be honest. Say you are trying to save money for a specific something. Include some aspects of your visualization when talking to them, such as how you are planning to save, and why you’re saving for this goal. Talking about your goals with the people around you is a great way to be held accountable and stay inspired! You might even find a savings buddy, and together you can work towards your goals.

Visualization is an easy-to-implement strategy that helps you bring your goals to life and strengthen your everyday saving habits. Saving money helps you reach your dreams — and no dream is too big! Start envisioning your financial goals today and how you will get there.