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Save Money With Mindfulness

By Frugaling 11 Comments

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Photo: flickr/Stefan Rüdiger

I’m hungry. I’m thirsty. I’m tired.

Just breathe.

My mind is whirling with self-doubt and questions that I need answers to immediately. My day hasn’t gone as planned, and I’m not going to be able to get everything done. There’s a running dialogue – stream of consciousness – and it feels like it cannot stop.

Just breathe.

My heart’s racing on another caffeine trip. I didn’t get enough sleep last night and my mind’s wandering. Unfortunately, I didn’t pack a lunch, either (written prior to Buy Nothing Challenge!). Rather than the norm – guilt – I feel beat from the frugal life.

Frugaling is working. I’m maximizing my budget and minimizing debt. But sometimes, I question the foundation of saving. A monstrosity of nearly $40,000 in loan debt is boring into me. Sometimes progress is like watching grass grow. Ironically, it’s the little decisions that add up.

There’s a convenience store across from work. More than anything, I want to grab a pack of Twizzlers or maybe a donut. It’s what I crave; weird, I know. Sugar and empty calories. There’s seemingly nothing better when you’re training for a marathon. In these moments of reflection, it takes serious willpower, prevention, and mindfulness to trump the convenience.

Writing these lines makes my mouth water in anticipation. Can I please have it? I’ve been working hard all day. I almost feel like I deserve that food. What’s the harm? It’s only $1.99!

Over the last year or so I’ve tried to insert a more meditative, mindful approach to my daily routine. Mindfulness is about really being present and in the moment with the world around you. It comes in handy when I’m hungry, cranky, and tired. I’m better able to feel the emotions, while also realizing they’re just that. Instead of simply stating, “I’m hungry,” I think, “I’m having thoughts of hunger.” Emotions are an endless stock ticker through the head. Changing the shape of your thoughts can powerfully distance yourself from your cravings.

Mindfulness meditation can be immensely powerful at circumventing the normal bustle; yet, in training, it’s frustrating and challenging. As I try to calm my mind, it frequently seems to run rampant and uncontrolled. I breathe again.

Recently, the New York Times featured the power of meditation in developing deeper empathy:

The next time you meditate, know that you’re not just benefiting yourself, you’re also benefiting your neighbors, community members and as-yet-unknown strangers by increasing the odds that you’ll feel their pain when the time comes, and act to lessen it as well.

Meditation and mindfulness don’t just benefit others, though. By becoming more self-aware and awake, it’s easier to save money. Suddenly rash purchases and conceptualized needs don’t seem as important. You can be present for more purchases and better establish the desires versus wants to save money.

As I left work, I peacefully walked by the convenience store; without those red, tempting Twizzlers and $2 richer.

Just breathe.

Filed Under: Save Money Tagged With: Breathe, Buddha, Craving, Food, Frugal, Meditation, Mind, Mindfulness, Monitor, Save Money

3 Psychological Tricks Restaurants Use To Make Us Spend

By Frugaling 1 Comment

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3 Psychological Tricks Restaurants Use To Make Us Spend. Crafting a menu is key. There are strategies that the restaurant industry employ to aid your psychological mindset and encourage greater spending.

Eating out is easy on the mind and awful on the budget. There’s no argument here – you can save more by eating in. The reality is that Americans eat out a lot and the statistics are staggering. The National Restaurant Association suggests that Americans spent $632 billion last year (2012) at restaurants. With that much at stake, companies have quickly made a science out of it.

We spend about $1.7 billion per day eating out, which equates to $2,505 per household per year. That’s money that could otherwise be going to meals at home and a stronger retirement fund for your future, family.

The Science Behind Perception

For 99 cents, you can purchase a bean burrito at Taco Bell. The iconic logo, waxy paper, and drive-thru lane all connote a certain class and quality. Many question the standards, while others exult the affordability. But when you go out to eat at a fine restaurant, you’re looking for something better. Afterall, that’s what you’re paying for, right?

Science has perfected three key ingredients to make you spend more and with greater frequency: music, colors, and menu. By availing yourself of this knowledge you can become a more critical patron and save hundreds – possibly thousands – each year.

Sights, Sounds Make You Stay

Upon walking into your favorite restaurant you’ll normally find a music track that follows you throughout the room. From dark wood and leather upholstery to brightly lit metals, the decorative touch says a lot about what you’ll spend. By creating a safe, fun, relaxing environment, restaurants invite us to to stay and spend.

Time spent in the restaurant was the most powerful predictor of money spent in the restaurant (Caldwell & Hibbert, 2002).

Restaurants are intentional with everything they do. Knowing their audience is key, because if the patrons identify with the music playing, they’re likely to  stay longer.

…Music preference provided a better explanation of actual time spent dining than tempo (Caldwell & Hibbert, 2002).

Even your menu choices may be influenced by the music and ambiance. French music may play gently in the background, and it may influence a decision to purchase French wine.

French music led to French wines outselling German ones, whereas German music led to the opposite effect on sales of French wine (North, Hargreaves, & McKendrick, 1999).

Colors Make You Feel

Today, you can find salmon with color added. The Kool-Aid, sodas, and sport drinks all fizz and pop with a different fluorescent color. Psychologically, we are wired to interpret these colors as indicators of health and vibrancy. These shades have a powerful effect on our perceptions of taste.

Color had a significant influence on the identification of…flavors (Stillman, 1993).

Seeing vibrant colors in food can enhance flavor identification and perceived satisfaction of the product being offered. Alone, this quite powerful. But restaurants also enhance and manipulate your sense of taste by the color of cups, bowls, and accessories.

…beverages were ranked as sweeter when consumed out of cream-colored cups. Drink unsweetened hot chocolate from an orange mug, serve fajitas on a red plate… (Prevention).

Menu Pricing, Formatting Make You Pay

Crafting a menu is key. There are strategies that the restaurant industry employ to aid your psychological mindset and encourage greater spending.

When we are reminded of the dollar cost of menu items, spending can be affected. There’s a quick fix to alleviate the burden of spending: take these symbols off the menu!

…results did show a significant reduction in spending when formats with monetary cues such as the word “dollars” or the symbol “$” were used (Yang, Kimes, & Sessarego, 2008).

99 cent items are commonplace at larger fast-food changes, and there’s a powerful psychological component to creating a gap between 99 cents and regularly-priced meals.

A fast-food operator may hold prices below $1.00 for as long as possible, and then jump to $1.25 or higher…because there is less purchase resistance once the dollar barrier has been jumped (Kreul, 1982).

This effectively creates a dichotomous menu of decisions for the patron: Group A (less expensive) versus Group B (more expensive). For finer restaurants, Group A is kept higher than average and Group B is kept lower than average. This makes spending more seem like a better value.

There’s a reason that chunks of text may be next to a short dish title. Including detailed descriptions of the menu offerings can assuage spending concerns.

…menu descriptions have the potential to increase revenue while also increasing the value perception (Shoemaker, Dawson, & Johnson, 2005).

Conclusion

Restaurants are clearly here to stay. Americans have voted with their capitalistic dollar in powerful agreement. The fact remains that eating out is a social past-time and great way to hang out with friends, co-workers, and lovers. By learning about the tricks restaurants use, you can at least become a critical consumer and save money along the way.

For more about critical consumption and tricks businesses use to sell us more, check out: Brandwashed: Tricks Companies Use to Manipulate Our Minds and Persuade Us to Buy.

Filed Under: Save Money Tagged With: date, Food, restaurants

Bargain Breakfasts

By Frugaling 3 Comments

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Nonetheless, these are aimed for those with little time to prepare. Hopefully, these bargain breakfasts can help you save money, keep you healthy, and regain your time.

Whether you’re stressed and busied with work, school, or something in between, it helps to have some quick, healthy options for breakfast. Before I became a hardcore frugaling nut, I was lazy about prioritizing food (Read about “Eating On The Go“). It didn’t mean starvation or malnutrition; instead, it meant fast food runs (arguably more unhealthy than going hungry, at times) and convenience stores. I frequented the Starbucks across the street for a tall coffee (~$1.75) and breakfast sandwich (~$4). Not only would I be pressed for time on these days, but I would also be spending about $5.75 for breakfast alone.

That lifestyle didn’t fit my budget. It was terribly stress-inducing, expensive, and cholesterol-laden. By waking up a bit earlier and going to bed at a more sane hour, I’ve been able to cook breakfast and pack a lunch every morning. If I wake up at 7:15 AM, I can make my traditional breakfast. If I’m beat and need to sleep in, I wakeup at 8:30 AM. The latter leaves me with 30 minutes to get ready and hop on my bus. Thankfully, I have another option for that scenario.

The goal is to circumvent convenience and prioritize healthy, frugal nutrition. Julia Childs would be rolling in her grave if she saw these “recipes.” Nonetheless, these are aimed for those with little time to prepare. Hopefully, these bargain breakfasts can help you save money, keep you healthy, and regain your time.

Option 1: “The Standard” Eggs and Turkey Bacon (10 minutes)

This has been my stalwart meal for about three years. Eggs are a nutritious, wholesome start to your day. One egg has about 70 calories and over 6 grams of protein. Most of all, eggs are incredibly affordable. The one downside is the heightened cholesterol levels. To minimize this arterial risk, I  supplement with egg whites, which are free from cholesterol. Turkey bacon is far cheaper than traditional bacon, and much healthier, too. In fact, the cholesterol levels pale in comparison to pig-bacon. All in all, the meal costs about $0.97 and 10 minutes of my time.

One dozen eggs: $1.50/12 = $0.125 per egg

Turkey bacon (21 strips): $3/21 = $0.143 per strip x 2 = $0.286 for 2 strips

Egg whites (about 20+ eggs per carton): $3.75/20 = $0.188 x 3 = $0.563 for 3 egg whites

Total cost: $0.97

Option 2: Banana Nut Oatmeal (3 minutes)

As a runner, I crave a balanced diet of carbs, protein, and vitamins. The Banana Nut Oatmeal has all three. This is stupid simple, too: grab some instant oats and microwave with water, chop up a banana and throw it on top, and then grab a handful of mixed nuts. In the span of 3 minutes and about $0.64, you’ve got a healthy, no-excuses breakfast.

Oatmeal: $1.99 (for carton) = ~$0.15 in bowl

Banana: $0.24

Mixed Nuts: $0.25

Total cost: $0.64

These are two simple breakfasts that will get your day started off right. Psychologically, I was convinced that there wasn’t enough time to cook and eat. When I compare $5.75 a day at Starbucks to my “standard” breakfast, I save $4.78 each time. The time and money saved pads my wallet and makes me more efficient. I’m no longer cramped for time and scarfing down a Pop-Tart.

What bargain breakfasts do you make?

Filed Under: Save Money Tagged With: bargain, breakfast, Food

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