I recently had a conversation with a 17 year old who told me that she and her friends knew they needed to save. They even went to the extent of setting up separate bank accounts to isolate money that they try not to touch. However, that didn’t work! They always found themselves dipping into the account to buy stuff.
This experience is not unique. Many of us have been taught to save and intuitively know not to splurge but our brain is hardwired for dopamine. For some, spending triggers a feel-good emotion, which is the brain’s way of rewarding us when we spend. Knowing your gratification style will help you understand how you are structured in terms of the spend-save spectrum so that you can better plan your finances/ responses to how your brain is geared for satisfaction.