Invisible Money

The trick that makes pay-yourself-first work is automation. Set up an automatic transfer from your checking account to your savings account on every payday. If the money leaves before you see it, you can't spend it. You can't miss what you never had. This is the "invisible money" principle — out of sight, out of wallet.

Behavioral economists call this a commitment device. You're making the decision once (set up the transfer) and removing future decision points (should I save this month?). Every month without a decision is a month without the chance to talk yourself out of saving.