Top 9 Reasons Why You Are Unable to Save Until Now

Every time I engage myself into gatherings with some of my friends, colleagues, or relatives, I make it to a point to ask about their financial plans and aspirations. Only to know that most of them haven’t even started saving yet. Considering their years as working professionals, it is alarming to know that they still live from paycheck to paycheck.

Here are top 9 reasons which I commonly noticed to be the main reasons why most of them are having difficulties in saving money.

Possibly, you can relate and learn from these as well:

• Contented with the little that you have

You don’t opt to find other resorts of income other than your day-job. If you’re satisfied with the earnings you are having right now, then you can hardly allocate a portion for your savings.

• No Financial Plans

During my first week here on Steemit, I shared about establishing a financial integrity. You can read it here. It is important to have realistic financial goals to know the right attack on how to achieve such. This will keep you motivated to save in the long run.

• Prioritize buying expensive gadgets or going to unplanned travels instead of saving and investing

Yep. You deserve to buy what you want, and to travel where you want to. Just make sure that you still have something to eat the next day, and you're not using all of your savings for such things.

• No budget plan

Not having a budget only means you are not monitoring where your proceeds go. So start customizing your own budget plan. Be sure to keep it realistic based on your actual earnings and expenses. Learn to stick with it.

• Procrastination

You don’t have the will to save, and your number one motto every day is “I’ll spend today and will save tomorrow”.

• Too much generosity

You spend almost all of your earnings for your family. I know, there’s nothing wrong with it, but you should also put limitations and be generous enough to yourself. You just have to save for the rainy days.

• Still in debt

Probably you are still under a huge debt right now which prevents you from saving. Perhaps, you are not yet done in paying the interest alone.

• Inconsistency

This is probably the hardest reason to overcome. Some of you may have saved a considerable amount already, but failed to keep in track. Friends, saving money is not a sprint but a marathon. It is a longterm commitment my dear.

• Lack of Financial Literacy

Some of us are so eager to be become monetarily prosperous, but aren’t giving much time to become financially knowledgeable. There are educated people who are struggling financially for they fail to educate themselves to become financially literate. Financial education is the first step to financial success and financial freedom.

If you have anything in mind to add to this list, don't hesitate to drop it on the comment box.

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Remember that Saving money is just a single step towards wealth-building. Don’t just save to save. You must also save to invest.

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For more tips about Finance, follow @smaeunabs

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• Does your source of living prevents you from making a life?

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• How to build your Wealth: Establish Financial Conviction