11 Reasons You're Not Saving More Money
Smarter and Harder
1. Thinking of It as Being "Cheap"
There's a difference between good money habits and being a cheapskate. Confusing the two can make it incredibly hard to save.
2. Focusing Entirely on Income
Income is important to a healthy financial life, but no income will be enough if you don't work on building good spending habits.
3. Not Having a Goal
Saving money is hard. It's essential to have a clear "why" to focus on to help motivate you through the tough parts.
4. Mixing up Pleasure With Happiness
Many of the luxury items we buy make us feel a fleeting sense of enjoyment, but don't actually contribute to sustainable happiness.
5. Trying to Force Yourself to Save
Like healthy eating, trying too hard to force yourself to have good habits with money tends to backfire. Instead, focus on small, gradual changes you can stick to.
6. Buying for Price Rather Than Value
Ironically, always buying the cheapest available option can lead to spending more money over time. Instead, focus on only buying things with lasting value.
7. Confusing the Word "Investment."
An investment should be something intended to grow in value or provide income. For anything else, the word becomes a euphemism to justify big purchases.
8. Treating it as a Sacrifice
Saving should be a fun and exciting process. Focusing only on what you're giving up makes it harder to stick with the process.
9. Following Bad Influences
All around you, people are making decisions with their money, and many of them are not great choices. Focus on your own situation and the decisions that make sense for you.
10. Not Appreciating What You Have
It's easy to turn saving into a journey of deprivation and lack. By focusing on the parts of your life that you love already, you can find the joy in the journey.
11. Giving in to Pessimism
There are plenty of things working against the average person making money. The only way to overcome them is to focus on your own situation and what you can do to change it.
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