With the travel season winding down, you might already be dreaming of a winter escape to a warm beach or a spring break getaway.
The hack: Name your travel account Most banks allow customers to rename their accounts with something custom. Choosing a name like “Great Reef Diving Trip 2020” or “High School Reunion” can help you mentally cement what that money is going to be used for and why it shouldn’t be touched for anything else.It creates an initial, specific intention for your money. By setting a clearly defined goal for the funds in your account, it becomes easier to visualize where your cash is going.
It promotes a more optimistic way of thinking about your finances. Naming the end result could turn negative thoughts about a seemingly insurmountable figure to save into a more motivating, can-do mind-set, with the opportunity to feel victorious after each deposit.