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7 Reasons Why You Never Have Enough Money
Everyone has the ability to save. Some of us choose to face the situation head-on and find unique ways to make it happen; others choose to live the paycheck to paycheck lifestyle.
Ever wonder why you not able to make that savings happen? Here are a few reasons …
- You’re shopping too much. If you are going to a store just to go to a store, then you’re probably going buy something you don’t need. Are you an impulse shopper? If you can’t walk by a sale table without stopping to see what looks good, then you need to make a shift in your buying. If you do need to go shopping, bring cash and keep it simple. Stick to your list.
- You’re not putting yourself first. You need to take a portion of your paycheck and pay yourself first. Even if you can only afford a few dollars. Otherwise you will continue paying everyone else first and putting yourself last. If things are so tight that you can’t spare a few dollars to save, then you need to have a serious look at your priorities. Make a list of what you spend your money on every month and determine what’s not necessary. If you can’t find anywhere to cut back, then consider picking up another job for additional income.
- You don’t know where your money goes. In order to assess where your money situation, you need to have a budget. And, because your income may stay the same while your expenses may fluctuate, you need to do a budget every month. And stick to your budget. Once you create a budget, you can see where you need to make changes and cut back.
- You’re living beyond your means. If you are buying new furniture, going out to eat, or have an expensive cable package with premium channels, then you can put money in your savings account. If you can’t put money aside, you are living beyond your means. You need to look for ways to downsize. All that matters is your financial health and the health of your family, not what your life looks like to other people.
- You’re spending money on stuff you don’t need. Are you eating out every day at lunch? Stopping at Starbucks every morning? If so, it’s time to get real about your spending. Make your own lunch and save the difference. Make your favorite coffee drink at home. Look for places where you spend frivolously and start cutting back.
- You’re not committed. Sometimes, hanging out with your friends can be expensive. If you’re determined to save, cut those costly outings and make a commitment to your financial future instead. Or find ways you can spend time with the people you love without spending any money.
- Your expenses are more than your income. Reduce your expenses as much as possible. Then, if you still don’t have enough money, look for an extra job a few hours a week or start a small part-time business to supplement and have enough to start putting something aside.
If you feel like you never have enough money left over at the end of the month, it’s time to get real about where your money is going and how you can cut back. Saving money is important for your financial future; it should be a non-negotiable item in your budget.