Why is it Hard to Save Money


I’ve been blogging about personal finance and saving money for quite few years now. Many readers may find it difficult to save money because of various reasons.

When I am starting to save money, I have also the same experience. One author I remembered said, everything is hard before it is easy.

It is much the same as saving money. At first, it will be very difficult but as you started to act, it will be easier for you to do so.


Here are the several reasons why many people find it difficult to save money and how you can win over these obstacles.


1. You Don’t Have Goals


Most people save money because they have goals they want to accomplish. In order for you to begin saving, you should also have a goal or goals you want to achieve.

Your goal must be achievable and realistic depending on your current situation so you will not be frustrated at the end. You should make your goals and write it in numbers.

For example, save P100,000 by the end of 2015, is one good example of an achievable goal. It is of course, all depends on how much money are coming in to your pocket.

Therefore, in order to start saving money, you should first have a goal. It must be realistic and achievable.

saving money

2. You Have No Discipline


Discipline is a must when you want to save money. It means sacrificing what you want over saving money. Desire for something must also be carefully scrutinize before buying it.

If you are serious about saving money, you should also have self-control. Your instant self-gratification must be set aside for the sake of your goal.

Don’t go to mall frequently, there’s a lot of temptation there. If you cannot control yourself, it is much better to stay away from malls if you don’t need anything there.


3. You Have No Resources


It is a common sense. How can you save money if you don’t have any resources where you can get money. For most of us, it is the job that we have where our money comes from.

In order to start saving, you should list all of the resources you have and how much money you earn from those sources. Just like many gurus and financial planners are recommending, the formula should be income minus saving equals expenses not income minus expenses equals savings.

Of course this is really hard for first-timers and for those who have income of hand-to-mouth. However, as the saying goes ” If there’s a will, there’s a way”, saving money is not impossible to do so.


Start small and grow it little by little. As your income increases through the time, make your saving plan higher. All things came from small beginnings and as you keep disciplined, I’m sure you will reach your goal.

Do you have any reasons why you cannot save aside from these list?


About the Author:

GilGil Tenorio is a blogger, a husband, a father, and an active Christian. He likes playing guitar, C.S. Lewis, Plants and Zombies and NBA. Follow him at Facebook, Google+, YouTube and Twitter. Thanks!


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One thought on “Why is it Hard to Save Money

  • August 11, 2014 at 22:35

    The first two reasons hit it on the head, but during this past economic meltdown, too many individuals just didn’t have the resources. Many actually lost their jobs and spent everything, including retirement funds, just to survive. Saving for a rainy day or saving for retirement, you have to put that certain amount in your budget early in your career. Unfortunately, many still shake with fear when they hear the word “budget”.

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