The Honest Truth About Saving Money
If there’s one thing that everyone says they will do with their money but almost never follow through on, it’s saving money. Recent studies show that 39% of American households have less than $1,000 saved and if you’re living in the 21st century like I am then you will know that $1,000 doesn’t buy you much these days. So what’s causing most people to fail in their personal saving efforts? Keep reading and you’ll find out as well as learn 5 strategies you can use to save more money!
Let’s face it, Americans aren’t great at saving. Most people have heard the overquoted statistic that almost half of the United States wouldn’t be able to handle an unexpected $400 expense and would have to go into debt to pay it. Another 21 percent reported that they’d deal with three months of unemployment by borrowing from friends, selling assets, or taking out payday loans. This is simply a few examples of just how dire many people’s financial situations are and quite frankly I empathize with them. Saving money can be hard and your efforts can be affected by numerous factors like your income, number of dependents, priorities in life and many other things.
So let’s go over a few reasons why saving can be extremely challenging and then I will walk you through 5 ways you can save more money and see your wealth grow over time!
