3 Reasons Why You Aren’t Saving Money

3 min readJan 25, 2023

Sometimes it can seem like the hardest thing in the world.

Photo by Emil Kalibradov on Unsplash

Saving money seems easy but over the long-term, it just doesn’t seem to happen for many.

Simply throwing around complaints and frustrations is not going to change that.

Yes, some people earn a lot more, yet their spending often increases with it, leaving them none the wiser as to why they aren’t saving either.

But there are solutions.

Why aren’t you saving?

I will try to help you today, as I try to do in all my writing.

1. You Spend Too Much on Unnecessary Items

It’s all too easy to become engrossed in spending money on things you don’t really need.

Make sure you are only buying the items you truly need, or else you won’t have anything left to save.

Photo by Jilbert Ebrahimi on Unsplash

This can often happen when you get a raise or start to earn more, as people are more likely to want to live well and reward themselves. But these people can also succumb to a lack of saving or investing.

The Diderot effect is something to watch out for. This is effectively where you upgrade one part of your life only to feel like you need to upgrade the rest of it to keep up, which can create a spiral of spending that is essential to avoid.

You should examine your regular spending and categorise those that aren’t absolutely necessary. Add it all up and reflect on the value of that spending.

2. You Don’t Have a Budget

If you don’t know where you are, how can you possibly know how to get where you want to go?

It’s hard to save money if you don’t know where your money is going in the first place.




Sharing what I know, what I’ve read and what I think, or thereabouts.