Experts reveal why these two goals make the perfect pair

It's a multitasker's dream scenario. But can saving cash really help shrink your waistline? Yes, according to behavioral psychologist Matt Wallaert. "Eating and spending are very similar behavioral processes in that they both are about the competition between our desires and the consequences," he says. "Psychologists often look at the lessons learned in one domain to apply them to others."

So why not kill two birds with one stone? These expert financial tips work for fattening up your wallet and slimming down your waistline. Ka-ching, ka-ching!

Put the Breaks on Splurge Spirals

"One of the key findings with both spending and eating is that when people "break" their diet or budget, they tend to go big, figuring that they'll just start over tomorrow because it is broken for today," Wallaert says. Case in point: One study found that dieters who ate a single Hershey's Kiss in the morning overate for the rest of the day, saying they had already "failed" on their diet. Don't throw away good money after bad, Wallaert warns. "If you overspend, or overeat, each additional dollar or calorie is just making things worse."

Control Your Environment

You can't buy what you don't shop for, so why tempt your willpower by spending time at the mall? While you may not be able to avoid all restaurants or stores, you can make little adjustments to your daily routine to help cut back on excess calories and spending. One study found that just moving a bowl of candy from your desk to a shelf across the room can dramatically decrease your daily intake. "Controlling your environment is critical in controlling your behavior, and we often forget just how important small changes can be," Wallaert says.

Create a Tightly Sealed Budget

While tracking your spending is a good idea, if you really want to get serious about saving both money and calories, create a budget. And when it comes to staying on task, cash is king.

"Take a stack of envelopes and mark them for items you need/want to purchase—groceries, gas, entertainment, and utilities. Put an established amount of cash in each envelope and once it's gone, it's gone. This will make you find a way to budget and make things work," says Amanda Gift, managing principal and vice president at Signature, a multi-family wealth management firm.

Set Up a Double Rewards System

One of the best ways to stay on track with your weight loss and savings goals? Regularly reward yourself for your efforts. "Choose a credit card that offers healthy ways to redeem points," Heckathorn suggests. "Have you always dreamed of enjoying an "exercise vacation" at a health spa where you do yoga twice a day? Choose the credit card, manage it responsibly, and you could make it happen for free."

Take action: Look for a credit card that offers you rewards you'll actually want to use, like the Chase Sapphire Preferred Card. New cardholders can currently earn a sign-up bonus of 40,000 points after spending $3,000 during the first three months. That translates to $500 in free travel (a Bikini boot camp, perhaps?).