Why Most People Fail at Saving Money—and How to Fix It
If saving money were easy, everyone would have a fat emergency fund and zero financial stress. But most people live paycheck to paycheck, accumulating more debt than savings. Why? Let’s break down the 4 most common reasons why saving doesn’t work for most people—and how to fix them. 1. No Budget or Plan Without a clear budget or goal, it’s hard to stay consistent. Money disappears because it’s not assigned a purpose. 2. Lifestyle Creep As income increases, spending usually rises too—new phone, nicer car, fancier dinners. But savings? They stay flat. 3. Procrastination We tell ourselves we’ll start “next month” or “after this expense.” But there’s never a perfect time. 4. Impulse Spending Unplanned purchases on wants (not needs) slowly erode our savings potential. One $20 impulse per week adds up to over $1,000/year. 💡 How to Fix It 🧮 Make a Budget: Create a spending plan that includes automatic savings. 🚫 Control Lifestyle Inflation: Allocate bonuses or ...