This Is Why You Can't Save Money


How to save money

If you are having trouble saving money there are a few different reasons. For many of us getting a paycheck without a plan only leads to overspending in certain areas and a never ending cycle of bills.


I remember the first time I wrote down all of my expenses, I felt empowered.


Until I realized that the way I balanced my checkbook was wrong. Let me be specific, the method I used after organizing my finances, was wrong.


It dismantled all the numbers and plans I wrote down on paper.


Yes, I had a “spend only 50 dollar" goal but it was pointless. I would still go to the store and buy $30 worth of goods while anticipating going out more.  


There are multiple misconceptions on saving money and how you should do it, but for now I only want to point out one.


You do NOT have to start off with a huge sacrifice in order to see changes in your wallet.


Okay, swapping store bought coffee with homemade coffee can feel monumental.


But I’m referring to picking up several jobs and never sleeping in the name of money. Saving money doesn't mean you have to sacrifice your sanity. Keep reading to find out 7 reasons why your saving techniques are not working.


Related post: 15 Creative Ways To Save Money In College



Why am I having trouble saving money


You aren’t ready to save


Saving doesn’t have to be rocket science but you have to be willing to give something up. 


The freedom to buy everything you want, when you want it, is put on hold. Truthfully even those who are wealthy do not buy every single thing they want. They mindfully spend and always keep the future in mind of both themselves and their children or organization they'd like to support when they pass.


Mindful Technique


But when the little voice tempts you to dip into your piggy bank, remember that it’s temporary. The money you're stashing away will eventually be spent or invested.


The discomfort you feel and the negative thoughts swirling, can be tamed by seeing your debt go down, savings go up, and worries slowly but surely vanishing.


Looking for more info on using credit cards? Make sure you check out our guide to getting your first credit card.

Focus on the good that's happening around you.



Too much is coming out of your check


Pay yourself first- it sounds so simple. Deduct the money from your check and put your other expenses in whatever is left. 


Automating amounts to your savings means adjusting


The only problem is that if you are living dangerously close to your means, automating your savings won’t work.


You’ll find yourself constantly borrowing from the money you have put aside because you didn’t change any of your spending habits. You have to live below your means and let go of the idea that you can keep your spending habits the same. Habit changes are necessary to save money.


You didnt plan efficiently 


Did you write everything out so that it looked pretty or did you try to ensure that your saving technique could work?


How to save money + Why can't I save money

No budget -Budget method


With the no budget- budget you add up your income, automate your savings, and subtract your bills.


How much money is left over is how much you would normally have to spend. When you implement a budget you are giving yourself room to automate your savings, review what bills you have and start to make adjustments, as well as invest for your future.


Naturally, we stick to our routines and maybe it's time to shake things up and find out what's going wrong with your spending.


Check out how to do the 50-30-20 budget method.

You downloaded a bunch of apps and ignored them