So you think you cant afford to save money?

perception-moneyI read a recent article about why so many people feel they cant afford to save money and thought I would share some of the insights.

It seems that for some, saving money could feel like losing money.  It feels like they seem to just be putting money somewhere, never to see it again. The article in turn, gave this advice, it said “picture your prosperity, have a goal when saving, whether for a house, new car or even that trip overseas.”

The problem seems to be how we view money.   It’s our perception of it that can make all the difference. For example, when a group of people were asked if they could save 20% of their income, most said no it was not possible. When asked the question in a different way to another group, they responded very differently to the first group. They were asked, if they could live on 80% of their income and most in this group said that it would be possible.

It seems that when the focus changes so does the way we think about saving. Think about the money you do have as opposed to the money you don’t have.

One suggestion was to try and automate your savings plan, your bank can easily arrange this or you can simply set it up online.

There you go!!  No more excuses!!  Start today!!

For more tips on saving, check out our 12 part series coming to you month by month throughout 2015.

Amanda is the Adviser Director of Wealth Planning Partners. She is passionate about assisting her clients with The WPP Way, helping them Secure, Build and Succeed financially. She is Gold Coast based, but loves travelling domestically and internationally.

Posted in Budget, Budgeting, Finances, Money, Savings, Wealth Tagged with: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *