Hit the pause button on spending for a solid 48 hours once your paycheck hits your account. Except for bills and bare essentials, abstain from spending for the first two days following each paycheck.

Have you ever noticed that your spending habits tend to change on the day you receive your paycheck? It turns out, you’re not alone. Studies analyzing electronic payments have shown that more than half of the population increases their spending on paydays by over twenty-five percent (25%).

The moment your pay hits your bank account can trigger a range of emotions and behaviors. For many, it’s a time of relief and satisfaction, providing a sense of security and accomplishment. However, it can also be a source of stress or anxiety, especially if you’re struggling to make ends meet or facing financial uncertainty.

One of the most significant psychological effects of pay day is the phenomenon known as “pay day splurging.” Research has shown that individuals across all income levels tend to spend more on discretionary items on or around pay day, often indulging in purchases they wouldn’t typically make. This can be attributed to a temporary feeling of financial abundance, leading to impulsive spending and a disregard for long-term financial goals.

To counteract the influence of this spending trigger, recognize and overcome the urge to splurge within the first few days of receiving your pay. Instead of succumbing to impulse purchases, commit to only spending money on bills and bare essentials during this critical period.