The Real Secret to Saving More

Most of us want to save—surveys show it’s a top priority—but day-to-day life gets in the way. The experts’ consensus? Don’t rely on willpower. Build simple systems that make saving automatic and spending intentional. Here’s the playbook according to Duke’s Dan Ariely, author Mary Clements Evans, and behavioral adviser Pamela Sams.

What actually works

• Automate transfers.
  Schedule an automatic move from checking to savings the day after payday. When money leaves before you see it, you don’t debate it every month.

• Invest on a schedule.
  Skip market timing. Set a recurring monthly contribution to a diversified fund. Over long periods, steady investing beats guesswork.

• Design for emotions, not spreadsheets.
  Money decisions happen in moments of stress, impulse, or hope. Identify your triggers and the why behind purchases to change habits that stick.

• Give every dollar a job.
  Name accounts—Emergency, Vacation, Tuition. Purpose-built buckets reduce the urge to raid savings “just this once.”

• Start small; build the habit.
  $15–$25 a month counts. Progress compounds, and consistency matters more than the starting number.

• Use raises wisely.
  Each time pay increases, split the raise: enjoy a slice now, send the rest to savings or investing. Repeat for 5–10 years to become a “super saver.”

• It’s never too late.
  The best time was yesterday; the second best is today. Every automated dollar nudges you toward stability.

One-week setup (15 minutes total)

1. Pick your “default” rate of savings: Start with 5% of take-home (or $25 a week if that’s easier).

2. Automate it: Schedule a transfer the day after payday from checking to savings. Schedule a monthly transfer into a target-date or broad-market index fund.

3. Rename two of your bank accounts: For example, start with “Emergency” and “Next Big Goal.”

4. Add one friction to spending: Remove saved cards or institute a 24-hour “wish list” pause.

5. Plan your next raise: Decide the split (e.g., 50% lifestyle, 50% savings) now.

Bottom line

Saving more isn’t about perfection, it’s about defaults. Automate good choices, label your goals, and let time do the heavy lifting. Start small today and upgrade the system with every raise.

Interested in reading more from these experts?

• Dollars and Sense by Dan Ariely dives into the behavioral aspects of personal finance and how we can make better choices.