Using an Alarm as a Financial Incentive

A person can promise to stop spending too much of his money, but if he forgets to do that then all of his good intentions won’t earn him a cent. He can tell his friends that he’ll start saving more from each paycheck, but if he just burns through it twice a month, his promises won’t count in the bank.

People are naturally inclined to save their money or to stop spending too much. The problem is that most of them forget when they need to be reminded the most. A good way to remember about their financial promises is through an alarm system. It sounds off-topic, but a good alarm can mean the difference between having $1,200 in the bank, or having to beg from one’s friends at the end of the year.

Almost everyone uses alarms everyday, whether it’s to get out of bed in the morning, or to take their medication at night. In the same way, a financial alarm can help remind people about their obligations or loans. A weekly alarm can be useful if it’s timed right when a person is about to go off to their bank. It can also remind them of how much they’re saving per week.

Monthly alarms can serve as a good reminder for paying the house bills while less- frequent alarms can remind users of more important financial matters. Over time, the physical alarm won’t be needed as the person will have ingrained himself with a good system for financial saving.