Why Can Saving Money be so Hard?

Why Can Saving Money be so Hard?

Many people dread saving money, even if saving money will help them escape or prevent debt. The reality is that we feel like we are losing money when we save money. But it does not have to be this way. There are ways you can cut around your barriers to saving money despite the urge to do the opposite. If you find yourself falling into bankruptcy in the future state of Tenessee, you should talk with one of our Tullahoma bankruptcy lawyers for advice.


The mystery of why people struggle to save money has been discussed several times before. We know that the instant gratification of spending money when you want and buying things you want sooner than later is enticing. Unhealthy spending habits can form without us realizing it, and then it feels like it’s too late.

However, the reality of why people avoid saving money is due to people feeling like they are losing money. When people purposefully put money from their checking into their savings accounts, they often feel like they are losing money. Other reasons people give include not having or making enough money.

In all these cases, the act of taking money out and putting money into savings feels like you are throwing away your money. The funny thing is that you are actually saving more money by doing this. When you look at the bigger picture, putting money into savings each month means that money will not be spent. Over time, your savings will grow significantly compared to not putting any money into savings.


One of the best ways to save money is simply setting up automatic transactions. This involves setting up a monthly or weekly automatic transaction from your checking account into your savings account. What this does is help you avoid the buyer’s remorse of saving money, freeing you from the anxiety of taking money out of your account.

Since the automatic transaction happens without you knowing exactly when the transaction happens, you may find yourself not worrying as much. Compared to taking out the money yourself, the transaction almost does this behind your back. Some people set up automatic transactions to multiple accounts to build savings for retirement, emergencies, and paying off debt.

If you have concerns about whether you have enough money to pull off automatic transactions, look into saving strategies. The best saving strategies involve adding up your total monthly or yearly income and finding out what you can afford. Subtracting your monthly expenses from your monthly income will tell you exactly how much money you can put into your savings each month.


No one wants to deal with the consequences of bankruptcy, but you may not have to deal with all of them. Consider calling us at Tom Bible Law by dialing (423) 690-7712 for a consultation today. Our experienced Tennessee bankruptcy attorneys can help you figure out what your options for bankruptcy are. You can find us throughout the Tennessee cities of Chattanooga and Tullahoma.