Saving money can be a difficult thing to do. Why is it so hard to save money? Well, you don’t always control your income, so you might only have enough to live month to month, or paycheck to paycheck. When this is the case, it becomes harder to save. However, it is not the only reason why it is hard to save money.
Anyone can save money if they really want to. The key is to budget well and be aware of the amount of money you spend each month. Chances are good that you simply aren’t aware of what you are spending on things you don’t need. You might find that you spend 100 dollars a month on video games, or a subscription to several magazines. Cutting back on even half of that results in a savings of 600 dollars a year.
Perhaps you don’t see the value of saving money. Saving money might just seem like you are being miserly, or that you should just spend what you have and have fun with it. Fair enough, but you should realize that there will come a time where you aren’t going to make money and you will need to fall back on something. This is the time you would see how important saving money is.
Maybe you just don’t think that saving anything under a certain amount is worth it. Saving anything is really worth it in the long run. The example above was just 50 dollars a month, but that would be 600 dollars saved in a year and 6,000 dollars in a decade. Putting your savings into stocks and mutual funds can make even more with compounding interest. That is just with a minimum savings, think about what you would have if you saved 100 a month.
Its possible you simply just don’t have any money to save each month just paying for the basics. This is where you have to get creative. See if anyone will let you take in bottles or cans to be redeemed. Maybe you can ask a friend or relative to loan you money to put into a stock portfolio where that money can grow and you can eventually pay back the loan. Whatever it takes to start saving money.
Saving money can be hard on some people, but you have to do it at some point. If you are not willing to save money, it will be hard to live and retire one day. You won’t be able to make money forever and who wants to work until they are 80? Saving money now will make your life so much easier.