Coronaviruses are sweeping the globe now. Social distancing, home isolation and the closure of non-essential businesses have severely affected the economy in many places. More and more people are unemployed and they have no habit of saving money, which makes people's lives under pressure. Today F3 CLUB wants to introduce to you why many people don't like to save much money.
In fact, this is a psychological phenomenon called "Present Bias". In simple terms, it only values the happiness in front of you, and does not plan for the long-term. In one famous experiment, researchers put children in a room with a marshmallow and told them that if they didn't eat the marshmallow until the researcher returned, they would get two marshmallows. Guess what? Most of the kids ate the marshmallow. People tend to choose the good option today over the better option tomorrow. So it is why many people are not prepared for retirement / unexpected events.
Hope this incident can teach people a lesson: Need to save money (whether for retirement or a possible accident). Saving money is actually not as difficult as people think. Making small changes in life can save a lot. Here are some advice for you:
- When buying something in a supermarket, only buy what is necessary, not too much "maybe needed."
- If you ’re making money decisions when you ’re emotional, consider taking a little time to calm yourself and approach a purchase rationally.
- It's also helpful to have specific short-term goals paired with long-term goals. For example, every time you put 5 dollar toward retirement, you can put 1 dollar into your 'game account’.
I hope our suggestions can help you under the pressure. F3 Club will also be committed to helping our members live better, bringing more high-quality but price-friendly products and more useful suggestions.