Nick HutchisonFounder and CEO, BookThinkers

This is ONE of my FAVORITE ways to SAVE more money

23 Apr 2023 · 1 min

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In this short video, Nick Hutchison shares one of his favorite money‑saving techniques, drawn from Mike Michalowicz’s book Profit First. He explains that as soon as income lands in your checking account, you should automatically transfer a small percentage to a separate “savings” account. Because the transferred funds are never seen or thought about, you effectively “pretend you never had it,” which reduces the temptation to spend it. Over time the hidden account grows, and your regular spending naturally adjusts to the lower balance in your primary account, helping you save without feeling the loss.

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One of my favorite ways to save more money is to pretend like I never had it in the first place. That's one of my favorite takeaways from this book, Profit First, by author Mike Michalowicz. Within the book, he says the minute money hits your bank account, automatically transfer a small percentage of it to another bank account. You never had it, you've never seen it, you never think about it, and therefore you can't spend it. That money will accumulate in another account and you won't even notice. Your spending will adjust to the amount that you leave in your bank account. So again, pretend like you never had the money in the first place.