RazzWorks

I’m sure most people have tried to save money at some point in their lives. I know I have. I’ve used various methods from a tin can to a bank account but it can be tough to choose to put money aside when there are things you want now. Through trial and error I’ve learned to save money and pay off debt. It’s something you have to think about every time you have money and are tempted to spend it. Here are some of the top reasons why most people have trouble saving money. Hopefully knowing this will help you come up with a plan for your money that works for you.

Remember tiny changes can add up to big results over time so don’t try to make a major overhaul of your finances all at once. Make tiny changes one at a time until you get used to the new way then add on something else. This way you can make life changes that you can maintain for years to come.

No attempt to see where it all goes
If you don’t spend any time writing down where your money is spent, you will continue to wonder where the money went. It’s almost impossible to save money if you don’t even know what you’re spending it on. A good budget can help with this.

No plan at all
Making a New Year’s Resolution is easy. This year I will spend less and save more. If you don’t make any kind of plan of action to accomplish the goal then odds are the idea just simply disappears as if you made no resolution in the first place.

Competing with others
Alot of people fail to save any money due to always trying to look equal to or better than someone else. Someone getting a new outfit does not mean you need one. If someone gets a new ‘widget’ it does not mean you need to get yourself something better or more expensive. If you want to save some money, then stop trying to outdo everyone else.

Unwilling to cut corners
Reducing spending requires accountability, determination, and perhaps a little sacrifice. If you’re not willing to take the time to figure out where you might be overspending, and you’re not willing to give up the little things then your money will continue to vanish.

Not taking advantage of resources
With things that you do truly need, you won’t save any money if you just go grab them. Common items tend to be cheaper if you’re patient and wait for a sale. Or there might be a coupon available for it. Or the exact same item might be available at a lower price from a different company or online.

Buying without thinking
One of the most significant ways to waste money is to see something you want and go ahead and get it. Consider if you need it. Some people see the word ‘sale’ and go ahead and get it. The thing is if you really don’t need it and only want it you would have saved more money by not buying it in the first place.

No emergency stash
Things happen! That is just how life is. It is very hard to save money unless you have an emergency stash somewhere. You may have started a budget, you’re spending a little less however, even though you made a plan, it fails because something comes up and your plan is ruined. By keeping some money tucked away. When a financial emergency comes up, you can bail yourself out with the emergency funds you created.

So if you don’t want your plan to save money to fail do the one thing that all these reasons have in common. Simply think ahead. Don’t just say I’m going to have more money at the end of this year and then expect it to happen on its own. Put some thought into it. Think ahead and write it down. The great thing about starting a plan to save money is that you can try again every day if necessary.

What are some of your best money saving techniques? Have a story about saving for something special? Tell us about it in the comments. We’d love to hear from you!