This was kind of knew. I have always heard of people locking in their finds with banks through various investments so that they can’t spend the money in order to save more. Today I was talking to a guy who worked for a small private company and he requested that they only give him the cheque payments at the end of the month. This way, he won’t have extra money laying around to spend where at the end of the month he has a large chunk of money to manage efficiently as that is usually when all the bills come too.
Interesting technique I thought. In many ways too I was thinking if you were that disciplined to not just whip out your credit card and start spending when you don’t have any money then maybe he is not giving himself enough credit to how good he is in controlling his spending as is. Guess for him though it’s better safe then sorry. It is better to have the money in your bank and earning interest though for example.