Saving money consistently can be hard. Especially if you don't have a plan. Here are 5 reasons you can't save money, and what to do about it going forward.

1. You don't budget
Knowing where your money is going is crucial. This doesn't mean that you have to put together a formal, strict budget, though. If you're a little OCD, you'll do well putting together an organized budget. I actually did a bit of a trial run with it this past weekend. But more on that later... If you're not budgeting your money in any way, you'll never save enough. To put it simple - you need to live below your means . This means you need to spend far less than you earn. If you don't, you'll never retire... at least not comfortably.

2. You don't use cash
Cash has plenty of benefits . My favorite one of all is that it's finite and visual. Once it's gone, it's GONE. Set aside a certain amount each week to use as 'blow money' or 'fun money' (whatever you want to call it). This way you'll know exactly what you can and can't spend. This also plays into the concept of guilt-free spending. You should be able to buy things you want without feeling horrible about it. Just like dieting, though, keep it in moderation.
So if you're not using cash, it might be a sign of why you're broke. Nobody gets rich by going into debt (and with cash it's quite hard to!).

3. You don't set goals
How in the hell do you expect to save money if you're not setting any goals? Goals are so important with money that it's the first thing I ask someone when they say they're broke.
Well there ya go. Setting goals is not only important, but it can be fun as f*ck. I've done a prosperity picture, my buddy Even Steven drew a thermometer-type thing , and many other people just straight color in flower thingies ! Whatever works for you, do it. But you need to have some sort of plan in advance so you know what you're working toward.

4. You don't bargain hunt
Convenience is a money killer. I'll admit, there are far too many times that I pay a premium for something just because it's convenient. When I do this, though, it's usually because I'm in a rush. I am buying something I didn't put a ton of thought into before. This could be an impulse buy or just something I waited to buy without doing any research or comparing. It may also be something that I think adds to my quality of life, only I miss that crucial step of walking away to think.

Bargain hunting doesn't mean scouring every website for the best deal. You may find an incredible deal from a company you've never heard of online, only to find your credit card number stolen days later. It also doesn't mean you have to research until your eyes bleed. You don't have to read every single review out there. And you don't have to ask everyone and their mom what to do.
All bargain hunting means is that you're finding balance. This usually means balance between time invested and time to buy.
For instance, if you're spending 10 hours researching something to save a few bucks, it may not be worth the time investment. But if you're spending 10 hours gathering valuable research to buy the best product available at the best price - it's bargain hunting. So if you're buying the most convenient product or service without looking for a good deal, you're wasting your time. You'll end up broke. Find a good balance between investing time and wasting time when buying something.

5. You don't buy in bulk
The primary reason I see people not buying in bulk is because of the up-front cost. If you use Costco or other membership stores, you pay a fee. Plus everything seems so expensive, right? Wrong. Products may seem more expensive, but it's because you're getting more of it. Compare the per unit or per ounce cost of what you're buying against your local grocery store.
Wholesale almost always wins.
When we buy in bulk, manufacturers can unload more of their products and use less packaging. The model just works. You get more of a product for less. It'll last you longer. But you'll pay more up front. You also won't have to make as many trips to the store when buying in bulk. So consider that little nugget.
One caveat to consider, though... buying in bulk takes up valuable storage space. If you live in a small home with little storage, this may be an issue. In this case you may not want to buy things in bulk that you don't use often. Stick to things you'll use within the month.

6. You don't eat smart
This may be the biggest money-suck on the list. If you're not shopping smart, you're blowing huge money out the window. What is shopping smart? It means you're prepared with a list of things you actually need. Not just buying a ton of crap that looks tasty and is convenient.

Conclusion
So here's the thing, guys. We all make money mistakes. I'm sure you've slipped up a month or two and spent way more than you wanted. It happens. But knowing these 6 reasons why you can't save money will give you a start in correcting those errors. Start planning and know where your money is going. Know that it's okay to screw up every once in awhile. Just remember to get yourself back on track.


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Thanks for sharing. Nlce article.