Our financial life is but one aspect of our life that we daily have to face up to; it is perennial. It informs a lot of decisions we make in life. In fact it stays with us all through life. Study and become adept in it and live a life of financial peace. Neglect it, and you will find yourself in trouble.

Savings is an important aspect of that life, but some people find it extremely difficult to keep some portion of their income away for the proverbial rainy day. Given the volume of information on the internet on saving, people still struggle with it.

Here are 10 reasons why your saving habit sulks

Not having a budget or having one but not sticking to it. Without a budget it’s really difficult to have a handle on your expenses. Your ability to save is a function of how much of your expenses you can control.
Budget is an estimation of the revenue or income and expenses of a person over a period of time. Not having a budget is akin to going shopping without a list of what you intend spending on.
“Manage your spending by creating and sticking to a budget.”—Alexa Von Tobel

Spending on impulse; this is one of the direct consequence of not having a budget.
“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.”—William Feather

Not keeping track of your expenses; to be able to save for a period of time, you need to know the areas where you can save on. You will be shocked to learn where you are probably blowing away money on when you keep track of your expenses.

Not actively seeking for ways to get passive income; having a passive income can really improve your chances of putting away some money as savings.

Getting into debt; debt is a consequence of spending more than you earn. “Never spend your money before you have it.”—Thomas Jefferson

Least expensive isn’t always cheapest. Don’t always go for the least expensive as they are not always the cheapest options in the long run. Buy quality not quantity.

Bad habits and vices; some vices take away money from your pocket. Vices like smoking drinking excessively,. Try identifying the triggers for such vices and work on eliminating them.

Not staying in shape. Health is wealth. Try staying in shape. Pray, jog, swim, walk, drink more water, eat healthier. “Good health is not something we can buy. However, it can be an extremely valuable savings account. —Anne Wilson Schaef

Not knowing the difference between need and greed. Needs are necessary, greed is wanting more than necessary.
Misunderstanding how savings work. To most people saving is simply the residual after taking out their expenses from their income. Hence their saving is a variable of their expenditure. You would want to start your saving process by having a constant percentage of your income you want to save and constraining your expenses to the residual.
“If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you’ll be forced to scale back spending to make ends meet. —Suze Orman

http://lightednation.com/2015/08/10-reasons-why-your-saving-habit-sulks/

Thanchuu!!!!!!

Not earning enough.