Saving money is harder because sending money is easier now.

[Churchillvv]

If not for the lock and save feature most have introduced the extent of spending had literally gone up so high and because of this same reasons people can go to a club and spend money that they would never have spent if they had it cash. Because they way you look at cash being too many and not able to hold them together makes you want to spend less but since money is now digital it’s just a number and values are not attached much so you ca spend recklessly. Living on budget is the only thing that saves now.

[Richbased]

Either way you will still end up spending money no matter how you try to manage your finances in order not to spend excessively. You might think that having cash available will give you some constraints in spending but it is not true and to be honest it's even easier to use cash to buy stuffs than make transfers. You might want to make a transfer through your bank app but you might be facing poor internet signals which will delay your payments but if you have cash at hand, you will always be tempted to use it and buy something even it it's what you don't need. This can only work if you have decided that nothing will make you to touch that money that you have kept for the week. Yet it's not still easy because something must surely arise which will require you to spend money.

[Obulis]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation. The ease of transferring money has made keeping money more difficult in bank applications, and also financial discipline harder to practice for some.

Have you observed this?

Very very serious observation!!
As for cash you already did the expenditure calculation, the expenses will to an excellent percentage go according to that calculation. However when that is not the case, expenses might just fly like your network data service. Just wondering! Yhe phycology around these, the expenditure of money at hand and digital money like the on the bank app or site is not the same.

Did you note this! The fact that your bank app is digital and your Bitcoin asset is digital has so much differences?

[Versatile_choice]

It all depends on individuals and also how you plan yourself, saving can only be difficult for you that's if you don't have plans or target that this is what you're actually saving for. I didn't know that there's a secret behind saving and that's you must have a target before you can make your savings successfully and failure to set a budget or target would make you not to save for a longer time because sometimes you might see something that attracts you and if you don't have plans for the money you're saving you will end up tapping it.

[tabas]

This is true, we tend to do more transactions digitally than with physically. But there's also the good thing out of it, we can also move that money to investments like buying bitcoin when we intend to do it. Noticing the stock pile of cash that we hold makes us more conscious than when we're doing purchases online because of the convenience that it provides us. I think that we've also adopted it due to the holdings that we have as we can see it digitally. But the principle that we apply with cash and bitcoin is totally different. We want to have more bitcoin and rather not spend it at most times because it's an asset that appreciates compared to fiat that we want to spend whenever want to. And the savings account that we have since it's accessible digitally, it's no longer just about savings but more of a monitoring app where our money come and go.

[Odusko]

Men this is not right for the time, thing have advanced in the world and people purchasing power is increasing daily and that is why the mobile app for banking transactions is most sortable compared to cash you said, what you are saying can only work for someone who don't do much aside for spending on basic need and bills, but for a business person who's transactions volume is high, you must rely on the apps to help you do the needed transactions and in private unlike physical Cash that can be seen by everyone.

[bhadz]

Have you observed this?

I did, and you're right. I've got a bank account app that has transfer fees for a very long time and that made me save some money because I don't want to pay the transfer fees. And guess what? When they announced that transfer fees were removed and there's no limit to doing that on a daily basis, my savings went down. Yes, it's become less $100 because I keep on spending on online stores with the things that I buy. Some of them are a must, but sometimes I buy things that are just appealing to my eyes. So that might be the explanation why we think that we save less when we have access to our money online than having cash on hand. But there's also the risk in having more cash in these times at least in my area, there are a lot of bad people that you don't want to show them signs that you have those cash.

[Fortify]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation. The ease of transferring money has made keeping money more difficult in bank applications, and also financial discipline harder to practice for some.

Have you observed this?

This idea of paying in cash has been around for decades and it has been proven to work in general, but that's mainly because it creates a bit more friction between you and your money. It is very easy to whip out a card and "overspend" in different scenarios because you dissociate with how hard it was to earn that money. There have been studies which detected spending cash in hand has similarities with physical pain inflicted on the body with the way it's registered in the brain. It can also help you put more thought into budgeting because if you only have $300 to spend on something each month, it makes it much clearer that you can only use a $10 each day rather than being more frivolous. It's forcing yourself to budget by a physical limitation, rather than just going with a rough guestimate of your spending so far. If you have enough self control in your finances then you probably don't need this, but it can be a good reminder on where you can cut back to engage in it every so often.

[OgNasty]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation. The ease of transferring money has made keeping money more difficult in bank applications, and also financial discipline harder to practice for some.

Have you observed this?

I haven't observed that and think it is a terrible plan...  As a Lean Six Sigma certified agent, I know how important it is to squeeze every bit out of every cent.  Your plan leaves a lot of money on the table.  Cash should be left in a place where it can get interest and right now that interest can be as high as 6%.  Additionally, by using a credit card and paying it off at the end of the month, you get an extra month of interest on your cash.  Then, by spending on a credit card instead of cash, you can get cash back.  Right now I'm earning 6% on my cash and 4% back on my spending.  So in a single month using your plan vs my spending plan, you pay 4.5% more for every dollar you spend than I do.

[Davidvictorson]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation. The ease of transferring money has made keeping money more difficult in bank applications, and also financial discipline harder to practice for some.

Have you observed this?

This is one of the ways that one can save money or spend money responsibly however, there are some drawbacks to this. And that is the challenge you may face when using cash is having to request for change or what we call balance. If you’re cashless you would not be worried about this. Secondly, there are some services that being cashless is more preferable and very convenient compared to paid in cash.
So basically, learning, healthy, financially, responsible way to both save and spend your money, regardless of whether you are going to pay for everything with cash or cashless will help you.

[HelliumZ]

Due to the advent of technology, a person can do digital transactions very easily. If you keep mobile banking enabled on your mobile phone, then you will unknowingly send money whenever you need it. But if you deposit money in the bank, then you would have to physically be present in the bank to deposit and withdraw money. In that case, the matter seemed very difficult, but now due to various technological updates, people can deposit and withdraw money very easily. That is why it is very difficult to deposit money now, but it is very easy to spend or withdraw that money.

[abhiseshakana]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation. The ease of transferring money has made keeping money more difficult in bank applications, and also financial discipline harder to practice for some.

Have you observed this?

Its very different for me, cash money that i withdraw from bank account i see it as money that has already been used, because will spent it based on my budget plan. So no pain of paying when i spend cash money. On the other hand, i will feel gloomy when the total balance in my account has shrunk, i think number on my account looks more real than cash on my wallet,  number provides a complete picture of my current net worth, so any drop in the nominal value triggers a sense of alarm immediately. Beside that  digital transaction leaving a digital footprint through account transactions so that it is easy for us to see and calculate it.

To curb my impulsive buying habit that make financial leakage and possibility ruin my financial condition, I am learning to be disciplined about following a financial plan and shopping according to my budget plan. I use an e wallet with a strict limit and the last for primary savings account, I have set my app to view only mode.

[Aliciaworld]

I have had this issue personally, I also don't like having cash at hand, I tend to give it away very easily maybe because I know I'll just withdraw another (although this was a while ago).I think I'll try this for a month to see how it works.

[DPHOR]

This is common with everyone out there because when holding money at hand it could be that hard for you to spend it that much because you would be carefully to spend it so easily than when it is in bank or your mobile app.
In mobile app, you can send out any amount without you having the feelings of what you are sending out, this is also applicable to those who invest in digital currency. When you have money at your gambling account, you may find it very easier to lose it because you could be that tempted so easily without you having that patient to hold it, but when you have never made deposit you would be that scared to use it to gamble. I rarely spend cash at hands, but during transfer I can quietly send out huge amount without having anything to feel about.

[püsür]

Unfortunately, I too believe this psychological effect is real, and I’ve developed a few tricks to counter it. To be honest, they’re a bit silly, but they’re very simple tricks. Psychology plays a huge role when spending money, sending money or shopping. Just as there’s a connection between food and psychology for some people, there’s definitely one when it comes to money matters too. The point the OP made about withdrawing physical cash versus sending digital money might well be true. I hadn’t really thought about that. I have a little routine for shopping. Sometimes you might feel like buying something you don’t really need. I add the item to my basket. But then I don’t do anything else. I reckon your body releases dopamine and so on, giving you that psychological satisfaction as if you’d actually made a purchase. That way, I end up not buying something I don’t really need and I don’t waste money unnecessarily.

[The Cryptovator]

I agree with OP; these digital banking systems were created to spend your money easily. It’s true it’s kind of hard when spending direct cash. But while sending money through the banking system or mobile financial system, we don’t realise the pain of spending money.

For me, while I need to spend a big amount, I use the banking system, so at least I am not seeing the cash, and the pain is less. However, I think so; when spending on cash, we care about the amount we are spending. So the idea isn’t bad to spend in cash and withdraw only what you really need.

[slapper]

since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing

Cash should be left in a place where it can get interest and right now that interest can be as high as 6%.

This is a fight between yield and friction. OP wants friction. OgNasty wants yield. Both arguments are valid. They just work for different people. Money has been getting more and more invisible for all of history. Gold coins, paper money that could be exchanged for gold, cheques, plastic, numbers moved around by your thumb. Money is becoming more and more intangible. Each step has reduced the pain of spending, and that's the friction OP misses.

So withdraw what you need for the week, park the rest, and earn some interest on it while you wait, as OgNasty suggested, and nobody loses.

Funny enough, this forum has the opposite problem. It's full of people who have a hard time spending their Bitcoin. Ask any long-time holder how he/she feels while buying a small item (a coffee for instance), and they will tell you that every coffee includes a quiet calculation along the lines of "what will these sats be worth in 10 years?" That's the pain of paying maxed out, OP's cash thing is kinda a mini version of it tbh.

[Dr.Bitcoin_Strange]

In my own situation, the result will be different from what you are advising. If I have cash at hand, I will most likely spend it before the time period that I have budgeted for it to last. However, if I leave the money in my account, making transfers and withdrawal only when necessary, then I will be able to sustain using the money until the time I have budgeted it to last. Although anyone who has financial discipline should be able to stick with their budget whether they have cash at hand or in the bank. There are some people, even if they see an item they like, they will never pay for it if it's not on their budget despite having the money on them, while someone else who lacks discipline will do the opposite. I have tried this your idea before, it didn't work for me.

[Roseline492]

A financial hack to spend less money, for say a week is for you to withdraw the amount of money you have to use that week and then avoid making any payment through your banking digital applications. There is a psychology behind this and why I think so is because if you withdraw cash that you need for the week and then have it at hand, you will not want to see that stack of cash go down very quickly so you will be cautious with transactions you make, but when making transfers using your mobile bank application, since you do not see a physical value of what you are spending, you can send out a huge amount of money and if feels like nothing because you did not see a physical representation.

Have you observed this?

Mobile Bank transfer is not as bad as you think, for the fact that you are getting a debit alert or messages at every money you spent during an online transaction it will definitely make you to be very cautious about your money because you are seeing your balance every time you spend money so truly the way a person would treat a physical cash is definitely how it would be when they're only spending through mobile banking transfer, so actually all this observation depends on discipline and how careful a person is when it comes to money because currently their are people who are even against having cash because of their reckless spending whenever they have it.

[rachael9385]

I think it has to do with personal plan and discipline, even with how easy it has become to spend money there are people that take necessary steps to make sure that they are able to save money, that's the reason why I said it's all about planning. If you really have the intention of saving you can find a way to lock up a specific amount of money for a particular period of time so it remains unaccessible to you, you just have to put in efforts if you are determined to do that.