The top 15 excuses people make for not saving money

Feeling like you can’t save any money? Overwhelmed at the thought of managing your finances better and starting to save each month? We understand it can seem daunting, but it doesn’t have to be! In this article, we’ll provide simple tips and tactics that will help you start saving faster – plus why money-saving mistakes should be avoided. Let’s get started on your budgeting journey and reclaim control over your financial future.

Why Can’t I Save Money?

Is your wallet feeling the pinch? If so, it could be because you’re spending more than you earn each month. But don’t worry – in our next discussion we’ll explore simple tactics to help decrease certain expenses and reduce overall costs as well as identify new ways of earning extra income.

15 Easy Ways to Save Money Each Week/Month:

If you’re looking to build your nest egg but don’t feel like you have enough spare change, then these tips might just be the answer. From setting up a budget and tracking expenses to using cashback and coupons, there are lots of ways that could help build your bank account faster each month – so why not give them a try? Finding extra money in your wallet can make all the difference when it comes to growing an emergency fund or saving for those bigger life goals down the line.

why can't i save money

1. Analyze Your Current Monthly Expenses

Are you struggling to save money, even though your paycheck seems like it should stretch further? There is a likely culprit – spending too much. Little by little expenses can creep up on us and eat away at our bank accounts before we realize what’s happening! Start making small changes in where and how you spend that could make all the difference for reaching your savings goals.

Take a hard look at your finances to find out where you can save! Break down expenses into necessary and optional categories, then take an honest assessment of where the money is going. You may be surprised how much small changes like dining in instead of eating out could help with saving more cash right away.

To be more mindful of your expenditures and make the most of what you have, examining different ways to reach necessary goals is a great place to start. Take transportation for instance; there may be multiple alternatives that help cut down costs without sacrificing quality or convenience. Now that you’ve taken an account of those expenses it’s time to move on and continue reaching financial stability.

The top 15 excuses people make for not saving money

2. Write Out a Budget

With a budget in place, you can easily manage your finances and maintain financial control. Taking the time to set clear goals for spending each month will help keep both short-term expenses and long-term aspirations on track! Setting an upper limit gives yourself greater peace of mind knowing that everything is under control while helping create healthier habits with money management.

Money management doesn’t have to be a mystery – with the right tools, you can anticipate your bills each month and make sure that your finances will stay on track! Take control of what money goes out by creating a budget. Compare it against monthly income to see if goals are attainable or not. If expenses outweigh earnings don’t fret; there’s plenty more ways to cut costs every week so financial stability isn’t far away.

3. Put Aside Savings First Each Month

Struggling to save money? Take charge of your finances with a simple but effective strategy: “Pay yourself first!” Set aside part of your income right away, putting it into savings or investments. Keep only the amount you plan on spending each month in checking – this way, when it’s gone, you won’t be tempted to dip into funds that should remain untouched.

Creating a separate savings and checking account is one of the most effective ways to manage your money and develop healthy spending habits. You should avoid dipping into your savings too much, making it almost untouchable for expenses, so you’re less likely to be tempted to spend too much money. Even better, open an investment account you can’t touch and make it a routine to add extra funds there each month; this will help you ultimately to end up with more money in the long run. Creating these extra steps in budgeting will prove beneficial when it comes to possessing better financial literacy.

Crafting a budget doesn’t have to be overwhelming! Having an amount set aside for savings each month is key, but make sure not to skimp on what you need. Start by allocating 10% of your paycheck and increase it as comfortable; once you get used to that new level of income control, the rewards will follow suit.

Having an emergency fund saved up for hard times can give you the extra financial cushion that we all need. Start by setting aside a few dollars each month and eventually work towards saving six months worth of living expenses- just in case.

The top 15 excuses people make for not saving money

4. Prioritize Paying Off Credit Card Debt

Overwhelming credit card debt can be a huge financial burden, eating away at your hard-earned money with sky-high interest rates. You might feel tempted to stash that cash into an emergency fund or savings account; however, before you do this it’s crucial to pay off those pesky credit cards first! Making the effort now could save you hundreds of dollars each month by avoiding hefty interest payments and allowing more funds to go back into your pocket in the long run. So rather than letting all those extra costs add up exponentially – take control today and start chipping away at that pile of debts.

Are you carrying credit card debt? It’s time to say goodbye. Spend less and start paying it down now, so that your money can move from repayment mode into savings more quickly! If other loans are in the picture too, analyze interest rates of all debts carefully before dedicating extra payments — this will give you an even greater payoff for future financial security.

5. Set a Specific Savings Goal/Target

Give your finances a goal-oriented boost by setting an end of year target for both emergency funds and any money saved or invested. Defining smaller monthly goals can also help to keep you motivated and make it more enjoyable, so try plugging those figures in too.

6. Focus on Earning More in Your Job

Saving money can be a challenge, especially for those living on low incomes. If you want to reach your financial goals more easily and quickly, then it’s time to invest in yourself! Building up skills that will increase your earning potential by reading books or taking online courses are great ways of improving the amount you bring home. Don’t forget to ask for a promotion at work – which comes with not just additional responsibilities but bigger paychecks too! Taking these steps may require effort initially; however, they’re sure-fire ways of gaining long-term stability in both wealth and career growth.

Bumping up your income is a great way to boost savings and make financial progress! Whether it’s searching for a new job or starting that side hustle you have always been thinking about, there are plenty of ways to increase earnings. Making the effort now could mean big rewards in the future – so don’t forget this important step towards gaining control over finances.

7. Limit Dining Out

Dining out and buying coffee can be a costly habit if you want to save money. Making small changes like meal planning, cooking at home, and bringing lunch with you instead of dining out regularly allowed me in my 20s to pay off debt faster while growing savings more efficiently.

8. Buy Used Items

When shopping for items like cars, cellphones and laptops, there is always the option of investing in a pre-owned model. Doing so could save you plenty when it comes to making payments over time or adding money into savings – especially if you don’t want your purchases taking away from future funds! Consider going secondhand before racking up debt on more expensive models; it’s worth having that extra cash set aside down the line.

When shopping for items like cars, cellphones and laptops, there is always the option of investing in a pre-owned model. Doing so could save you plenty when it comes to making payments over time or adding money into savings – especially if you don’t want your purchases taking away from future funds! Consider going secondhand before racking up debt on more expensive models; it’s worth having that extra cash set aside down the line.

9. Negotiate to Work from Home

Instead of being stuck in traffic and overspending on food when working a 9-to-5, why not take the opportunity to try out a more budget friendly lifestyle? Working from home can be an incredibly valuable way to save money by cutting down costs related to transportation. Not only will you get back time that would otherwise been spent commuting but also have extra room for developing hobbies or side projects! So if your wallet is feeling less than happy, consider having conversations about transitioning some days into remote work with your employer – there’s no end of benefits available beyond just monetary savings.

The top 15 excuses people make for not saving money

10. Buy Necessities in Bulk or When on Sale

Start your financial journey off on the right foot by taking advantage of bulk discounts when stocking up for basic necessities like paper towels and protein bars. Shops often offer savings that you can take full advantage simply by asking about buying in larger quantities – a great way to save money without affecting how much you already enjoy.

11. Reduce Cable TV and Cellphone Bills

Take a second look at those pesky monthly bills and uncover the potential to optimize your spending. You might be surprised how much you can save by talking directly with your providers: from reducing data limits on cellphones, eliminating cable channels or even getting discounts for being an accommodating customer. These small adjustments add up quickly over time – leading to astonishing savings down the road.

12. Consider Living with Roommates

Cut your housing costs in half by setting up a house-share! Whether you’re an owner or renter, taking on an extra roommate can help reduce the financial burdens of high rent and mortgage payments. By splitting bills it becomes easier to save more money each month without having to drastically change your lifestyle – what could be better?

13. Look for Cheaper Alternatives to Brand-Name Products

Without sacrificing quality of life, it’s often possible to save big money by choosing cheaper brands for certain products. You could get the same features on a less expensive cellphone or television and still be satisfied with your purchase – after all, you’ll adjust no matter what! So if budget is top priority but value matters too; opt for an affordable yet reasonable choice instead of springing for that pricey brand name item.

During my 20s, I chose to live a humble life and made sure that every penny earned was smartly stashed away. This conscientious attitude towards money paid off when I reached the mid-30s as it gave me financial freedom! Instead of splurging on items you don’t need right now, consider investing your money in savings so you can reap its benefits later on. It’s an incredibly simple concept but one with potentially huge payoffs; by taking this route today, you could improve your quality of life massively for years to come!

14. Relocate to a City with a Lower Cost of Living

Planning for the future isn’t always easy and relocating can be a big decision. To optimize your finances in the long run, it’s important to find a city where you’ll get more bang for your buck—but depending on what kind of work is available, this might mean taking a hit to your income. So before moving anywhere new do extensive research into job opportunities so that an affordable cost of living doesn’t come with diminished pay benefits.

15. Reward Yourself for Reaching Savings Goals

When you’re trying to improve your finances, it can be hard to stick with a budget. To stay motivated throughout the year and give yourself something special for all of your money-saving efforts, consider rewarding yourself occasionally! Whether that’s treating yourself to ice cream once per month or planning an end-of-year trip if you hit certain goals – celebrating financial successes is key in keeping up the good work. You don’t have anything spend loads either; set aside just enough each time so as not derail any progress made on achieving those long term savings goals.


Saving money is an important part of personal finance, and everyone wants their bank account balance to grow. But if your goal is to save more money but you’re growing your savings too slowly (or not at all), it’s likely that you’re not following the proper methods for saving. To start saving faster and reach your financial goals, prioritize saving money over other spending.

Create a budget, use coupons or take advantage of special deals and then utilize automated transfers whenever possible so that your bank does the work for you. Additionally, consider creating a plan for paying down student loan debt or any other mortgage payments. By implementing these ideas into your everyday life, you’ll see your bank account balance grow in due time.

Why is it so difficult to save money?

Financial illiteracy can cause people to struggle in saving money. Many people lack understanding of saving money and spending it in order to earn more than they earn. The ignorance of financial choices can also cause them problems and further hinder their savings.

What do you do if you Cannot save money?

When people spend money they spend more than what their earnings are. The easiest method to deal with this is to reduce expenses and reduce others.

Why can’t some people save money?

Having a high cost of living is impossible. You cannot afford to spend money because you spent more than what you had and there’s nothing left to save. If one is utilizing a credit card and treating it like money, the cards make it easier for the consumer to pay back.

Read more: The 6 months savings challenge, and Other Ways to Save Money Fast

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