I Can’t Save Any Money

Question: Dear Luise: I can’t figure out how people save money. Some with lots of money aren’t really savers and some without much, save a lot. Some save it without being obsessive and others are misers to the letter. The reason I want to know the answer is that I can’t save, ever. I have been in the bucks and I have also lived on a very small income and it makes no difference. Can you shed some light on this? I want toneed to save! Tony

Answer: Dear Tony: You don’t say if you have been or are now in serious financial difficulty due to your inability to save; like being hit with huge, unexpected bills or by practicing deficit spending and creating unrealistic and disabling debt. I’m assuming that this is more about wanting a nest egg and never getting around to finding that easy to do. So, I’m going with that.
For many people, it’s a matter of priority and pleasure, or even making pleasure a priority. Savings look like idle money to those who aren’t trained to save or who resist learning to do it. It is easy, also, to become financially irresponsible if you were raised in excessive frugality or it’s polar opposite. I have a friend who has tons of money and feels poor. She can’t call me long distance because her carrier has a $5.00 charge for that service, and she’s afraid she might not use it up in a month. I have very small savings in comparison to hers, maybe about 1%, and I ‘feel’ rich. Is’t that interesting? I would suggest you look for a way to outsmart yourself. Create saving money with your own blessing, or it won’t work. Make saving money a high priority, instead of trying to work with what’s left. Pay yourself first every month and get that you deserve it. Save any future raises and look at ways to live on less, like lower rent, etc., while you bank the difference. Or buy a piece of land and make the payments your savings account. Give this issue your focus. That may be all that’s needed. For most of us, saving money doesn’t just take care of itself. It’s work. Blessings, Luise

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