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Do You Know Your Weakness When It Comes to Saving Money

28 March, 2017

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 - by Kate Watson

Trying to save money but not achieving your savings goals?  What is it that is lacking in you when you are saving money?

Saving money can be hard at sometimes but knowing your weakness when it comes to money will help you save even more.  Realising you weakness when it comes to achieving your saving goals will help you to became a better saver.

Here Are  Weakness Relating To Saving Money.

1. You Are Lacking Patience

Most people struggle with having patience when saving money.  Let me admit to you I struggled with this for a long time when I was trying to build my emergency fund. Every time I try to save money something  would pop up resulting in me taking money that i had set aside for my saving. In  the end I decided to open a notice account. The notice account worked for me as I didn’t have immediate access to my savings.

2.  You  Impulse Buy

Most people tend to buy blindly without realising this. Asking yourself every time you buy anything from food  to clothing will help you to become a better saver. Questions such as “Do I really need this item?, Why do I need to buy this item?” are a good starting point.

3.  You Spending More Than You Earn

When you spend more than what you earn you will always be in debt, trust me I have been there.  Learn to be content with what you have, living within your means will help you save more money.

4.  You Lacking Self-discipline

When you lack self discipline it means saving money can be difficult to achieve when saving money you should have self discipline as this determines if you are able to save money or not.

5.  You Compare Yourself With Others

Stop comparing yourself with others you are in different levels of financial responsibilities. Do your own thing be yourself .

6. You Lack Motivation Towards Saving Money

When you are saving money try to motivate youself by being in company with people who are positive about saving money.Visit money saving  blogs like this one Tips4savingmoney.com learn more ideas about saving money. Read  inspirational stories about people who achieve their saving  goals.

7. You Do Not Budget For Savings.

Always , always have budget for your savings in your main budget every month. Don’ t leave the leftovers of the budget to  be the savings for the month.  Instead treat savings like a bill e.g electricity bill which must be paid every month without fail.

8. You Are Always Shopping With A Credit Card.

If you want to save money shop using your credit cards, Credit cards earn interest which you have to pay. Why not use cash  instead.

9. You Do Not Have A Savings Account.

These are modern days we can’t talk about saving money under the mattress where your money does  not earn interest, open a savings account instead.

10. You Do Not Know Your Weakness

Know your weakness when it comes to money and work on these weakness so that they become your strength then you can save more money.

Everyone has some weakness, what are your weaknesses when it comes to having money? Share in the comments.

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