Is this the most bizarre money hack yet? Finance expert, 26, claims 'waiting for two minutes' before buying anything can save you THOUSANDS
- Money-saving platform founder Dominic Aarsen has offered up the simple hack
- At the grocery or clothes shop, don't buy as soon as soon as you see something
- Instead set a timer for two minutes and hold it in your hand for that length of time
- He said the majority of the time this will mean you don't actually buy the item
An unusual 'two-minute trick' that could save you thousands of dollars a year has been put forward by an expert as a simple money boosting method.
Make The Most Of Your Money founder, Dominic Aarsen, 26, said setting a timer after picking an item off the shelves and holding it can help you decide what you need and what you don't.
The Australian professional said the psychological trick works in a variety of shopping situations, especially after you have finished shopping for essentials at the supermarket.
Make The Most Of Your Money founder Dominic Aarsen said simply setting a timer for two minutes after picking an item off the shelves can help you decide what you need and what you don't - and save you thousands
'It doesn't matter what you buy - hold it in your hand, set the timer on your phone and wait for two minutes,' Mr Aarsen told news.com.au.
He said this mostly saved less than $10 but over time it built up to a handsome sum as 'more than half the time you don't actually buy [the item]'.
The penny-pinching guru has a host of other savvy ways to make your money go further, including what he calls a 'Coke bottle hack'.
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All the money saver has to do is put a $2 they have lying around into a 600ml bottle of the fizzy drink - which would then hold up to $1000.
Another tip is to put your superannuation into one account and only have two to three takeaway coffees per week - saving $600 a year.
Mr Aaarsen, who recommends investing the $1080 tax saving for middle-earners, also offers a do-it-yourself platform to help people save money.
Users input their finances into his system, which then tells you where and how you can save money in your life.
He told the publication last year: 'It’s a robust framework, you can change it to what you want.'
'You put in your money, it spits out the numbers and then you can chop and tailor it to what you want.'
Mr Aarsen can then see if users are meeting their savings goal and supports them if he thinks they have fallen short.
Count the pennies: He said this mostly saved less than $10 but over time it built up to a handsome sum.
A New South Wales paramedic student Racquel Abrahams, 24, said she attributed her success to the online program.
Her biggest goal when signing up was to have saved $10,000 for a European vacation but also to be able to buy her own home when she returned.
She said: 'Obviously renovating a house is an expensive project as well as owning a house and paying the mortgage every month.
'But I’m following what I was taught (through the program) and aligning my goals with what I want to achieve.'
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