Personal finance

‘The Power of Habit' Author: Giving Yourself More Gifts Can Help You Save More Money. Here's How

Getty Images

Getting more gifts for your own stocking may be just what you need to save more money this holiday season.  

Rewarding yourself can be a powerful tool to change old spending habits, according to Charles Duhigg, author of the book "The Power of Habit."

Many people struggle with the idea of working toward big savings goals such as retirement or even an emergency fund, Duhigg said.

"If you are trying to save money, it is essential that you come up with some weekly routine where you reward yourself," Duhigg said. And the reward doesn't mean you have to spend more money. 

Check out this video to see the most effective ways to reward yourself and for a breakdown on how treating yourself can help you put three to four times more money into savings.

More from Invest in You:

The real 'Catch Me If You Can' con artist says this classic scam is making a comeback
How this couple paid off their $195,000 mortgage in under 4 years

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Copyright CNBC
Contact Us