Proverbs 10:4-5 – “A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son, but he who sleeps in harvest is a son who brings shame.”
Everyone wants to have more money available for their needs and wants, but the process of saving just doesn’t seem fun at all. The idea of depriving yourself of activities you enjoy, or maybe eating the same meal over and over to save a few bucks, is certainly not enticing to many.
If you feel like you are struggling with your savings goals, here are five (5) possible reasons why:
- There is no set goal or reason for saving. If there is no “why,” then you will always be tempted to spend instead of saving. Are you saving because you want to take a vacation this summer? Are you saving to create a habit so you can eventually end your reliance on your credit card? Whatever your motivation, write it down and keep it somewhere you’ll see it often, so you know why you are doing it.
- You are not focused on one thing. Too many goals usually result in little progress being made because you are all over the place.
- Unrealistic saving goal. An individual wanting to save $10,000 monthly but earning only $11,000 monthly—well, that goal is unrealistic.
- Commingling of funds. Monies for groceries, utility bills, and insurance premium are all in the same account. As a result, you have no idea what should be set aside for savings versus regular bill payments.
- No accountability partner. This person doesn’t need to be someone with the same saving goal as you. Your accountability partner only needs to be someone who is counting on you to follow through with your plans and will call you out if you start slipping. Don’t be afraid to call on a friend or relative to keep you on track.
