Difficulty of saving money

[Mango9]

1 The attitude of "I'll save when I have more money"
Okay, so perhaps you're not saving as much as you'd like to right now, but when you receive that promotion you've been striving for, things should improve. Maybe.
Yes, earning more money makes saving money much simpler. But do you anticipate a change in your expenses? Remember the last time your salary increased significantly. Do your spending currently match those from a year ago?
This kind of thinking can be preventing you from starting to save right now.
2 No specific savings target in place
Some people's strategies for saving money include getting paid, taking care of their bills, living their normal lives, and then saving the remainder. What if you could operate a little more shrewdly?
Saving money is similar to other goals in that it is much simpler to do if you have a specific objective to obtain. Because of this, many who desire to lose weight set monthly weight loss goals for a specific amount. It provides them something to strive for, holds them responsible, and tells them if they're succeeding or whether they need to make changes.
3. Excessive housing costs
The majority of people's largest monthly expense is housing, whether it be rent or a mortgage. But are you overextending yourself?
Housing costs account for 37% of the average American's pre-tax income. Paying no more than 30% of your income for housing is the typical rule of thumb. Whether you agree with that way of thinking or not is immaterial. The idea is that since housing is probably your biggest expense, it can be the hardest obstacle to overcome when looking for additional places to put money aside.
4. No set spending limit
Budget is not exactly a term that inspires excitement, but bear with us.
Essentially, a budget is a financial game plan. You can use it to restrict how much you spend in particular categories. Additionally, it tracks every dollar that comes in and leaves your account each month so you can see how much you may be saving.

 

[Carpon]

I'm really impressed with this write up. You have pin pointed some core and very prevalent things that deter and cripple the savings of many.
Few years ago I fell victim to the first thing you mentioned that has to do with procrastinating your savings till when you have more than enough money.
I earn very little and I felt there can be no room for me to save. Though I could have saved even a little I decided to shift it till an unknown time of till I'm earning more. The effect of this was that at some point I was met with an opportunity than needed me to invest just a little and I'll later on have much profit. I knew if I had saved that would have helped but due to the thought I created that I can't save now, I had to go around trying to find something I could have had only if I avoided such procrastination thinking I don't earn enough to save at the moment.
And I think another thing that affects savings is your discipline. At times there are some sorts of luxury you may want to enjoy but when you have discipline, you will avoid such in order to have enough to save.

 

[Augusta]

The truth is that if you want to follow the many bills we have then we won't save money at all. The fact remains that money issues will always arise but you need to cut down on them to be able to save money. if you are to go by the needs or wants you need to accomplish then you won't have any money to save.

This is why I always advocate for the use of scale of preference. You would be able to know the needs to focus on and the ones to drop. So that money will remain and you would be able to save. The truth is that some people that earns little save better than those that earns big. Why is this so? because the person that earns little is determined to save no matter what. While the person that earns big Is on spending spree

You can't save money with overspending.

 

[Sotherefore]

I like you for this, indeed your write-up is so reasonable and you are saying exactly the truth. People who are not able to organise and save from the little amount of money they are earning now will still have a lot of difficulties to save even when they are able to make much money for themself.

Just like we understand , the human needs are completely unsatisfiable and as a result even if our salary is increased by x10 of what we used to earn , we will still have a lot of things in our mind to pursue and such might be a huge hindrances to our savings .

I agree perfectly to what you said , the best way to start saving is now because you shouldn't be surprised that even if you have opportunity to earn much in the future saving might still be difficult .