Why We Can't Save

Saving money has always been a priority for most people, but it's really hard to save. With prices going up on just about everything we use on a day to day basis, it is no wonder that our buying power is shrinking and everyone is looking for ways to cut back on expenses.

• When prices go up, it is called inflation.

But why can't we save? True enough, some people have stocks and bonds, 401k's, and other job related retirement plans, but many people don't, and many of those who do have retirement plans are dipping into them to make ends meet or to pay off mounting debt.

What happened? We listened to the so-called monetary experts. Our economy has become fluid, meaning money flows like water. We were taught to spend today and worry about it tomorrow. The problem with that is that it works for some people, but not for everybody. Even people with good jobs and businesses are feeling the pinch, and they are struggling to keep their heads above water.

The truth is, it is hard to save money, but we must try. We must begin by looking at ourselves and our needs, as opposed to our wants. We must try to understand our spending habits and find ways to stop spending on things that we can do without or cannot afford.

Right now, most of us have something that we are buying, not because we need it, but simply because it was there and it seemed like a good thing to have when we saw it in the store. But now, we have it at home, it's not being used, and it is just sitting around collecting dust.

For example, we, as individuals, often buy jewelry, fashionable clothing, shoes, tools, cars, furniture, games, movies, or any number of items. But once we buy them, we realize that they are not what we thought they would be.

• Have you ever bought something, forgot about it, and find it six months later, still in the box, never having been opened? You didn't need it then and you probably don't need it now.

The furniture you bought didn't fit well in your home or go with the decor, so it ended up in the garage, or in storage. The same thing happens with clothing, dresses, shoes, and jewelry. You don't need it, but you buy it anyway.

You knew you didn't need it, but it looked too good for you not to buy it. You knew it wasn't your style and that you probably wouldn't wear it, didn't you?. Where is it now? It's still brand new and it's hanging in the closet with the store tags on it or packed away in a box.

There are many reason why you can't save money, you're in debt, and you are having a hard time making ends meet. You have to understand that not all the same reasons apply to each of us. The solution is to determine what keeps you from saving and try to fix your own problem.

Finance Topic of the Month: Why Is It So Hard To Get Out Of Debt?