10 Things To Do If You Have No Savings (and why you have trouble saving)

One of the main reasons financial anxiety is triggered stems from a lack of financial security.

For many of us, including myself, feeling comfortable and secure in life is linked to how much we have saved, how many resources we have access to, and knowing which financial plans we are moments closer to reaching.

A lot of what is taught in urban communities revolves around seeing your wealth. It’s the jewelry, cars, newest outfits, and flashy vacations that represent how much money you have.

There is nothing wrong with treating yourself.

Investing in your happiness through material things is often looked down on in the personal finance community but the truth is… personal finance is personal.

How to start saving money

Not everyone desires to live frugally just as not everyone finds enjoyment in spending money freely.

However the extremes of spending too much or spending money on the wrong things can lead to a sad reality for many. According to Cnbc 51% of Americans have less than 3 months of expenses saved.

Keep in mind surveys like the one mentioned above do not account for the many undocumented people living in the U.S who are in the same situation.

There are a lot of different reasons for why you or someone that you know could have trouble saving money and there are just as many ways to improve your relationship with money.

What's Ahead:

Why do I have trouble saving?

-Not ready to make sacrifices

-Too many bills

-Need a reason to save




-Not looking forward

What Can I do To Fix My Finances?



-Emergency fund

-Sinking fund

-Set Goals


Ways To Save


-High Five Banking

-Spend Cash

-Savings challenge

Why Do I Have Trouble Saving?

You’re not ready to make sacrifices

A financial sacrifice could look like leaving a job that pays more upfront for one that allows you more room to move up later on.

You would be taking a temporary loss of pay for a much bigger return long term.

A sacrifice could also look like skipping buying food once a week in exchange for eating the food you bought when you went grocery shopping.

Related read: 21 ways to save money while grocery shopping

Too many bills

Living below your means is the key to building wealth.

You avoid running into money trouble when you cut out the unnecessary spending. Why do you need several tv subscriptions if you only watch a few hours of tv a week?

Keep in mind if you find that there is value in having different subscriptions then by all means continue to subscribe to them.

But buying things that have purpose even when it comes to your bills is how you figure out what you need to have a happy fulfilling life

Missing something to save for

Money anxiety can lead to all sorts of money trouble.