To help you understand why you cannot save money on monthly basis, we have listed top 10 reasons why people cannot save and what goes wrong with them in their daily life. If you can find out where you made a mistake, it will help you to finally change everything.

10 Reasons You Have No Money and Can’t Save Money

1. Continue to Improve Your Lifestyle

When you get a tax refund or a bonus at work, your first thought is to go out and splurge on a luxury? Buying a pulse is one of the most dangerous habits that consumers can develop, and even by sudden windfalls. That’s how people end up in a dangerous cycle of paycheck to paycheck. Every purchase is justified by the fact that you still have money “left over.”

You can think of increased wealth as an opportunity to look for symbols of status or lifestyle updates. Instead, use acquired wealth to get rid of old habits. If you resist the temptation to spend your entire salary, you will find a bit of security that gives you much more freedom than updating your lifestyle.

2. You Procrastinate

There is a reason you “pay yourself first” – this is the golden rule for personal finances. Because if people don’t spend money right away, most will not. The general idea is this: take a certain percentage of your salary and allocate it for savings. And the rest is what you will need to use to pay bills and other expenses.

Bad savers are often procrastinators, so they constantly say they will save it later. To eliminate pressure, these users can benefit from automatic withdrawals every month. It gives you no choice but to save, so you can stop apologizing to turn it off again and again.

3. You Think That Saving is Lame

Bad savers sometimes say they like to “live right now” instead of preparing for the future. Have you ever felt stuck in the present? This is often much less glamorous and exciting than it seems. You can not have fun living in the moment, if your present always feels like you are running out of money.

In fact, rescuers are better prepared for spontaneous trips or adventures, because they do not need to wait for the next salary when they want to do something fun. Instead of focusing on what you want here and now — and get frustrated when you can’t afford it — start thinking about what you really want. If you see your past desires, your big goals will motivate you. Then you will see that saving is not a problem at all. This is your ticket for financial freedom.

4. You are Afraid of Money

Many people are afraid that they will not have enough money, but there are people who have the opposite problem. If you are afraid of accumulating too much wealth, it will be important to dig deep and understand why. A meeting with a therapist can help you understand why you are afraid of financial success. Inadequate learning is one of the ways in which the fear of money comes about.

5. You are Too Nice with Other People

Do you freely give loans to those who ask? If you are a family ATM, you should stop this kind of behaviour in your life. It will be difficult for you to save money if you do not keep some of them in your bank account. Work to overcome your fear of being perceived as a bad person, and practice saying no from time to time. Do not agree to lend money if it jeopardizes your financial future.

Also, remember that your relationship may be at risk if the loan is not repaid (which is likely). A money label study found that 57% of people said they had witnessed a break in friendship or any other close relationship, because one person didn’t pay back the other.

6. You Have Bad Habits

Your habits determine your quality of life. This applies not only to your professional life, but also to your personal life. The opportunity to save does not happen overnight. This is a habit that must develop over time. Until you learn to save money every day, you will continue to fight. A great way to start is to automate your savings.

7. You Have No Support

If you spend time with people who don’t know much about money, their bad habits can end up hindering you. And if you are a savior, and you happen to marry a spender, you are on your way to a very family conflict. Try to keep company with friends and family members who respect money. Also, consider assigning someone as a reporting partner. That way, when you feel like overdoing, you can quickly talk about it.

8. Compare Yourself

Comparison with your neighbors or acquaintances is normal, but frequent participation in this behavior can make you a very bad financial choice. For example, if you always see that others are well dressed, you may feel that you are not looking well enough. You can start spending the money you don’t have on new clothes so you can look good. However, these credit card purchases will overtake you, and you will have an bill you can’t pay.

9. You Have No Financial Goals.

Before you can take a step forward, you need to know where you are going. Financial development will require you to set and maintain your monetary goals. If you want to achieve these goals, you need to constantly remind yourself where you want to be in the next few years. Keep an eye on the prize by creating a financial vision board. Keep a board near your bed so that you are constantly reminded of what you have so zealously achieved.

10. You are Not Motivated

If life goes smoothly, you probably don’t think about saving money. But life is unpredictable. A serious emergency can strike you right away. All it takes is an unexpected illness, divorce or sudden death to change your financial circumstances at night. If you can’t seem motivated, think about what your life would be like without an extra cash pouch.