Am I Deceiving Myself? Yes! And Here’s Why You Should Too

In her famous song “Does He Love You,” Reba McEntire asked, “Is he deceiving me, or am I deceiving myself?” While self-deception in relationships is probably a bad idea, there are times when it can work to your benefit, especially with your money. 

Marketing companies pull out all the stops to use your emotions against you and take your money. Why not turn the tables and explore ways you can make your emotions work for you?

The Gym and the Sunk Cost Fallacy

I prefer working out at the gym over home workouts because once I’m there, I feel invested. Changing clothes and driving for ten minutes makes me want to make the most of it. This motivation trick is rooted in the Sunk Cost Fallacy—the idea that just because you’ve invested time and money into something, you feel compelled to continue, even if it’s not rational.

Shopping Spree on a Budget

Got the urge to shop? Head to the Dollar Store or Goodwill. Giving yourself permission to shop can feel liberating without hurting your wallet.

Make a Nice Dinner at Home

Fancy restaurant dinners come with a lot of waiting and expense. Instead, use that waiting time to prepare a nice meal at home. Set a beautiful table, play relaxing music, and enjoy a great meal in your pajamas. It’s cheaper and more comfortable.

Pay Yourself First and Automate It

Just like subscription services that automatically deduct money from your account, set up automatic payments to yourself. Extra mortgage payments or investments in an indexed universal life policy can accelerate your wealth accumulation without the stress.

Self-deception doesn’t have to be negative. By using these tricks, you can make your emotions work for you and improve your financial situation. Start small and see how these changes can make a big impact. What’s your next smart self-deception tactic?