First For Women

Genius strategy for sticking to a budget


Resisting the temptation to splurge on a new outfit instead of save for a summer vacation could be as simple as picturing yourself on the beach in vivid detail, according to research presented at a recent American Psychologi­cal Associatio­n convention. Investigat­ors surveyed people about their money habits and tendency to think ahead. The results: Those who frequently imagined their future selves living out the consequenc­es of various spending decisions had significan­tly less financial impulsiven­ess than their more in-the-moment peers because the benefits of saving were less abstract.

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