There are 3 categories of people – those that save, those that don’t, and those that want to save but think they can’t. The reality is everyone can find some money to put aside from one month to the next. Whether it is $5 or $500, any amount of savings is a good starting place. It creates a habit that is good financially and important for your future.
Here are five common reasons people aren’t focused on saving.
"There Are Too Many Expenses"
It may be difficult for your family to make ends meet each month once all of the bills have been paid but if you aren’t saving because you think there isn’t enough money to go around, it is time to make some changes. Start by listing all of your monthly expenses – from the mortgage right down to the $1.50 you spent on coffee yesterday. It all adds up. When you know where you are spending, you can start finding which expenses are unnecessary and will free up some cash for your savings account.
Image source: Michael 1952