Do you ever wonder why, despite your efforts, you still can't meet your financial goal? With the upsurge of the global economic crisis, there comes a broad range of reasons why most people can't complete their savings plan. From unemployment to low wages and proliferating debts, many are stuck amid different conditions that prevent them from saving the right amount that meets their goals.

However, in a few cases, there remain to be individuals who have the full capacity to save up money but still can't do so. Are you one of them?


To help you know the real problem and finally keep up with your financial plan, here are some of the most common practices you need to change and let go of. Check them out.

Saving Enough for the Future

You haven’t mapped out your goals.

Unknown to many, setting up a goal comes as a necessary part of ensuring proper and sufficient savings. Similar to budgeting, being committed to a savings plan requires knowing the answer to the question “What is your objective?”


By posing this question and determining the answer to it, you will be able to plot out the right savings method and identify how much you will be needing to save each month to reach that particular goal. Monitoring your monthly expenses makes it easy to know how much you can set aside to achieve your monthly financial goal. Being committed to saving up helps you to have a stress-free retirement.

You’re using your savings to pay off your debts.

Well, here comes an obvious one. Although turning to your saved cash to pay off your debts might seem like the “easy-way-out”, opting to do this will leave you vulnerable in times of emergencies and may even push you to engage in far bigger debts when worse comes to worst.

The best way to solve this dilemma is to prepare separate money reserved for paying off your debt and a separate savings account. This doesn’t just save you from the possibility of having no extra cash in case of an emergency, but it also allows you to keep up with your planned savings while managing your debts efficiently. So, make sure you have a separate emergency savings fund. This will help you stick to achieving your financial goal without having to worry in case an emergency arises.


You haven’t reviewed your lifestyle.

News flash: Your lifestyle might be the biggest savings-buster of all time. From your monthly Spotify subscription to your regular Starbucks coffee run, a monthly shopping spree, and your outrageous car payments, there comes an array of reasons why you’re probably going through a tough time keeping your finances well.

To identify the root of the problem, try to take a seat and recognize your previous activities for the month. Which among them took up most of your income? Is that activity necessary, or is it just part of your leisure time? Will you be able to survive weeks or months without that activity?

By reviewing your monthly lifestyle and distinguishing your “needs” from your “wants”, you will be able to draw a line that will guide you in determining which activities you should keep and which you should start ditching today.


Have your savings been on the decline lately? Reaffirm your financial commitment, and multiply your savings by letting go of these habits.

Sitting down with a financial expert is a great way to know how you can properly handle your finances well. With the right goals, methods, and tricks, you are sure to welcome even greater savings for your future plans in no time.