10 Reasons Why I Can’t Save Money and Tips to Get Money Back

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You have probably experienced times where you feel that you are always spending more than you had expected or planned. That’s because you are not saving money.

It’s not your fault. The experts agree that, although you may have the best of intentions, you simply don’t know enough about how to make money to make it work for you.

It would be better to just make your budget and stick to it instead of chasing your dreams.

We’ve identified ten common reasons why you can’t save money. If you want to get out of debt and start saving now, check them out and see which one applies to you.

I can't save money

#1 You have a poor grasp of personal finances

Managing your finances in a way that allows you to save money isn’t something that comes naturally to most people. In other words, you’re not going to suddenly start making wise financial decisions. If you want to be a good money manager, you need to understand how to be a good money manager. That means you’ll need to put in the time and effort to research and educate yourself on personal finance. In other words, read a book or blog on money management or enrol in a money management course. Just make it your job to learn all you can about money management.

We have HERE some suggestion if you’re not sure where to begin. When I was in financial trouble, I went to this book as a starting point for learning about how to get out of debt, save money, and become financially secure.


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#2 You have no preparation for emergencies and unexpected expenses

Conserving money is one of the most discouraging aspects of saving money. One of the things that tends to throw you off course in this area is unexpected expenses.

It’s like taking a step forward and then being knocked back by two steps.

Put it another way: unexpected expenses can happen at any time, so you should prepare for them.

In addition, you should put money aside in case of emergencies.

Being unprepared for unexpected costs is a sure-fire way to get into trouble. Be prepared and don’t spend more than you need to!

When you keep reacting in this way, your income is tied up and you’re not able to save for the future.


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#3 You are not in the habit of budgeting money

Right now is the perfect time to begin saving.

In order to begin or grow your monthly savings, budgeting is a must-have skill.

It’s important to manage your finances if you want to measure your success. You can do it by using a budget.

If you’re looking to save money, you’ve got to do a little something to help yourself.

In order to save money, prepare a budget and get your finances under control right away.


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#4 Are you so addicted to your credit card that you own one or more debt on it?

It’s a bad thing to spend too much on your credit cards.

When you have credit card debt, saving money can be much more difficult because you spend so freely. You should focus on getting control of your spending instead of making an effort to pay off your debts.

This means that debt from using credit cards stays with you for a long time.

Debt can quickly grow to thousands of dollars per month in monthly minimum payments if you don’t pay attention to it.

Using a credit card means you’re giving up money that could be saved.

This vicious cycle can be broken if you stop using your credit card, because credit cards can bring about all kinds of negative consequences to your financial life.


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#5 You spent on you vehicle

According to Experian, the average monthly payment for a new car in America is $609, and about $465 for an used car. Honestly, what’s the worst part? Giving a loan! It’s getting harder and harder to get a loan these days. Your monthly auto payment may not be saving you as much money as it could if you are paying a high interest rate. Let’s give it some thought. Savings of more than $5500 are being squandered by those who pay $465 per month on their automobile loan, for example A considerable sum, to be sure. For that kind of money, you could take two or three pretty good trips per year. You may start your own business with the money you save, or you could use it to cover some unexpected needs. For the following two decades, you may put that money into your retirement fund and watch it grow. The cost of owning a car is difficult for most people. Sell your automobile if you don’t want to spend a lot of money on gas or other expenditures. If you have a nice automobile, you may be able to receive a better deal.


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#6 ‘Dog-poor’ for this situation

Unless I can afford it, I will not be purchasing a residence. With a monthly mortgage payment of less than 25% of your monthly wage, you can’t expect to generate large sums of money in the long run. This is sometimes referred to as being in a “dog-poor”. It’s also a significant strain on your financial resources. It’s impossible to save money when you have a vehicle loan plus credit card debt. To be clear, I’m not urging you to put your property on the market. It strikes me as a really unique and individual preference. If you’re having trouble saving money, I’m trying to advise you to look at your mortgage and see if that’s the problem.


#7 Your rent is high

Rent in many major cities has reached an all-time high. It’s just going to get worse from here. And so it will have a very negative effect on your capacity to save money. The rule of thumb for renting is to spend no more than 30% of your take-home pay on rent each month. Renting a new apartment could be an option if your current one is too expensive and you don’t have the funds to reduce it. Again, I WANT and I NEED. Some things you don’t need in your apartment. For example, if they would cost you, maybe, an amount a month to maintain. There are a lot of wonderful extras and luxuries to enjoy while renting, but if they eat into your savings account, they’re not worth it.


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#8 I WANT and I NEED

There is a big difference between: I WANT and I NEED. And if you’re not able to save any money, it’s possible that you’re mixing up the two concepts. There are instances when it’s difficult to tell the two apart.  For example, my friend got a side job at a private studio throughout his college time, he worked as a craftsman, with wood. As normal, he needs some professional tools for working.  But the truth was that  he used his side business as an excuse to acquire every tool he desired, even though he already had all his required tools. What did he think of it? It was easy for him to persuade himself that each new tool he acquired was necessary since it would allow him to earn and save more money. Despite this, he spent every penny he made on the next piece of equipment. He needed to figure out what was wrong and stop wasting his money.


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#9 Student Loan Payment

An amount of $200 and $299 per month is number students pay for their typical student loan, following The Federal Reserve. It’s much higher for some of them. This can lead to high levels of student loan debt, which can have a terrible impact on your budget. It can be expensive. It may eat up a significant chunk of your monthly income, much like a vehicle payment. In addition, the longer you let your debt to accumulate, the more difficult it will be for you to save money. $3,600 a year is a lot of money. Student loans have the effect of being stifling your ability to save.


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#10 You eat out a lot

Going out to eat too often, and you may start wondering where your money goes each month, and why you can’t save it.

To give you an example, when I am very careful about my grocery shopping and meal preparation myself, I just spent around $160 a month on food. This amount is in my monthly budget for food. Well, because I live alone. The way you spend your monthly grocery money would be different if you have a family.

While, there was a big problem with blowing my monthly food budget in the event of my being lazy and eating out more frequently than I should.

The food we eat is an important part of our lives, and sometimes it’s nice to go out to dinner and share it with friends and family. But, remember to your wallet.


start to save



Hey, so we’ve found a number of possible reasons why you’re having a difficult time saving money. The explanations given above are also based on my own personal experience. Let’s now discuss about ways to save money.

Changing one’s spending habits is no small feat. Saving  can only be achieved by your hard effort, your sacrifice, your persistence, and your discipline. There are, of course, other ways, but nothing like leaning on yourself.

The rewards are well worth the effort if you’re prepared to work hard and battle for a better financial situation.


Stop adopting conservative measures to protect your finances

You can be a little more proactive. Don’t set a fixed date or number, and then slowly move forward. Instead, when you can accelerate, don’t hesitate. You can work harder, or think about increasing your income.

In addition, you need to strictly adhere to priorities such as budgeting, paying bills, earning income, and paying off debt.

When you decide to attack your financial goals, you will be amazed at the results you can achieve.


Take control of your spending

Again about spending habits, you need to make an effort to control your spending. At a minimum, to keep your spending under control, you need to budget, track your spending every day, and cut back on unnecessary spending. This should continue until you are out of debt and have a six-month emergency fund ready.


No more debts. Try your best!

Don’t wait to get out of debt. You lose out on savings and a better financial future for every dollar you use to pay debt. So, try your best to get out of debts as soon as possible. Credit card debt is one of the easiest ways you put yourself in. Again, keep your eyes on your expenditures closely.

Pay off your college loans as soon as possible by establishing a budget and sticking to it. Your college degree is designed to help you make more money, not burden you with monthly payments for the rest of your life.

Get rid of all of your debt as soon as possible since it will have a negative impact on your financial future.


Prioritize saving money

Prioritize saving money above anything else in your financial plan. Determine how much money will be saved by the time you get paid, then transfer it to your savings account at the end of the pay period.

The amount you save each month should not be decided by the amount you spend each month. It needs to be a fixed number or above the number you have set, if you can afford it.


Increase your financial input

When you can’t find a way to save money, you may find that the best option is to earn more money. If you need to pay off debt but don’t have the money for further payments, this is a great option.

To increase your income, you can work a second job, a side job, establish your own business, or invest (you’ll need to do a lot of research before investing, if you don’t want to increase your debts. So, watch out!). It’s possible to make money doing what you enjoy. It will be very cool!

However, you should avoid starting a business that would cost you a significant amount of money. The ultimate goal is to increase your income in order to reduce your overall spending.


Bottom line

Many, many things in our life keep we away from saving. Temptation!

However, we think hard to know why we are struggling to save money, and figuring out how to overcome these hurdles will help put your finances in a better place.

Good luck!


High Conversion Forex Robot

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