Are you struggling to save money, even though you’re doing  everything right? Guess what – the problem might not be you, but  this wild phenomenon called ‘found money.’ Get ready to have  your mind blown by how this unexpected income is messing with your savings goals.

Mental accounting is a key concept in behavioral finance, which is all about how people treat different types of money. Found money is that sweet surprise income, like tax refunds, work bonuses, or hitting it big at the casino. Cha-ching!

But hold up – instead of helping you save, found money can actually hurt your savings game. People tend to see this extra cash as, well, extra, making it way more tempting to spend on #TreatYourself moments. That’s when the savings account starts feeling a bit neglected.

So how can you break free from this sneaky savings trap? One  solution is to treat all your money the same, no matter where it  comes from. That means putting found money towards more  responsible things, like paying off debt, saving for retirement, or investing in your future.

Another idea is to set up a separate “found money” account. Any  unexpected cash goes straight in there, where it’s used for  savings or investments. No more shopping sprees with your  surprise dough!