8 Reasons Why you Never Have Enough Money

For the last few years, we have talked a lot about saving. I guess you could call us pretty heavy savers. 

However, as I blog about saving, I tend to get tunnel vision with that goal all year long – one thing I hear almost weekly from friends or even as I peruse through Facebook feeds, is “I can’t save because I don’t have the money.”

Ever heard of that?  

I hear it almost daily, and even more so at the holidays.  

Want to know the truth? Truth of the matter is that everyone has the ability TO save.  Some of us choose to confront that situation and find unique ways to make it happen; but others choose to live that paycheck to paycheck lifestyle for several reasons.

I’m HUGE on saving. I might just be the only person that can walk into Target, without any cart, and walk the store for a full hours scoping for deals and leave without buying a single thing.  In fact, I’m perfectly content sitting out of all the hoopla on Black Friday, simply because I have a financial goal, and leaving the house will not help me reach that goal.

My husband knows I’m like that.   I’d like to think he likes that. At least he has for the last 16 years.

Ever wonder why you might not be able to make that savings happen?  Here are a few reasons …

#1. You Don’t Know Where your Money Goes

Or you are afraid to find out….

In order to assess where your money is coming in and out, you need to have a budget.  And because your income may remain the same but your expenses may fluctuate, you need to do a budget monthly.

And not just do a budget but stick with the budget.   

Once you establish a budget, you can see where you may need to make changes to cut back on a few items, or pick up a part time job to make some extra money to pay off bills or debt. 

Get a notepad.  Every day, write down everything you buy. Check that notepad out at the end of the week and ask yourself if all those expenses were necessary. Did you need to stop at Starbucks every day? Did you have to buy food at the grocery store? Or could you have lived on what was in your pantry?

#2. You are Shopping TOO Much

If you are going to a store just to GO to a store, then you are likely going to end up purchasing items you don’t necessarily need. Are you an impulse shopper?  

If you are someone that can’t walk by a clearance table of candy without throwing loads of it in your cart, then you need to make a shift in your buying – candy isn’t nutritious, it certainly has no value in your cabinets, so leave it on the table for someone else. 

If you do need to go to the store, bring cash, or a gift card and keep it simple. Stick to your list – or think of other things to do with your time other than going to a store. Save yourself the heartache of going over budget.

#3.  You are not Putting Yourself First

And when we say “putting yourself first”, we don’t mean go and get a pedicure – or, go and take yourself to Starbucks. We mean that you need to take a portion of your paycheck and pay yourself first.

Otherwise, if you don’t, you will continue to spend the rest of your life paying everyone else, and putting everyone else first except yourself.

If you are in such a financial bind that you can’t even spare a few dollars to save, then you need to have a serious sit down with yourself over priorities – make a list of what you pay for and determine what isn’t a necessity. Can you trim cable? Can you eat from the pantry more often? If you can’t do either, then picking up another job for additional income might be needed.

#4. You are not Committed

Sometimes, hanging out with friends or even family can be a costly venture – if you are focused and determined to save, then cut those costly commitments and make a commitment to yourself.

If they are your friend, they will understand your dedication  — they may even want to do the same as you so they can begin to save. But if you can’t afford to go because you can’t afford to bring a gift, then politely decline. You are NOT required to go.

#5.  You are Being Lazy

As harsh as it might sound, I will tell you that I see this every day on Facebook. 

“I am low on money, I have $2 in my checking, I can’t take my kids [here] because I am low on funds…” – the list goes on. But yet the next day, you are buying clearance candy [that isn’t a necessity]…. or going crazy at the local 99 Only  – you are indeed the reason you can’t save.

If you are complaining you don’t have money but yet you are spending on clearance tables then you need to reevaluate your priorities. I have little sympathy for these people – you are in the predicament you are in because you can’t control your spending. If you truly want to save, you will make it a priority in your life.

You will FIND the resources required. You will DO what it takes to find those extra dollars, even if it means walking PAST the holiday clearance tables and dropping that money in the bank.

#6. You are Living Beyond your Means

If you are paying for brand new items such as cars or new furniture, going out to eat, or even an expensive phone or cable package, then you CAN put money in your savings. If you can’t do that, you are living above your means – who cares what others drive, or think of you – all that matters is your family.

Take it down a notch:  if you find yourself having to justify why a new car or car payment is required, yet you can’t afford to put money in your Emergency Fund or Children’s College Fund, then you need to downsize. All that matters is your financial health and the health of your children – not what your life looks like to others or what others think of you.

#7.   Your Expenses are More than your Income

Sometimes, taking a break to examine what you are really spending on your household expenses can really open your eyes. Have a $150 Cable Bill? That needs to go – Cut that back and save the difference.

Reduce your expenses as much as you can, then if you STILL don’t have enough money to cover that amount, an extra job a few hours a week will help bridge that gap. Deliver pizzas on a weekend, or, get a job at the local grocery store stocking shelves at night. 

#8.  You are Spending Money on Junk

Are you eating out daily? Going to Starbucks? Do you cave in at the Dollar Spot in Target?  If you shop at the 99 Only store, do you find yourself coming out spending $25 – $30 per trip (when you could have spent $5 – $6?)

If so, get it together (harsh, but reality!)… make your own food for lunch and save the difference. If you can’t resist the urge to purchase at Target, don’t go (trust me: you will be fine!)   If you are going to the 99 Only store, take cash – limited cash.

These unnecessary expenses add up fast. It could be the money that you can’t “afford” to save.

Is the clearance table something you can’t resist? Then don’t go to the store after the holidays. Your life will not go down the tubes if you miss the post holiday clearance. 

Of course, we know this sounds a little harsh – if you are taking offense to any of these, then maybe some of them DO apply to you. Saving IS possible. You need to find a way to make it happen – reduce your expenses, don’t buy things you don’t need, shift your focus:  commit to saving and we can guarantee that a year from now you will have an entirely different perspective of all those small purchases that could have been working for you and no for someone else.