When it comes to saving, we can distinguish people who are very good at doing so, they don’t have a hard time saving money and setting limits; On the other hand, we find those who do it because they know they should, but it is a difficult task and they barely manage to cross the “recommended” line. But there are also those who, from just hearing the word savings, already have skin rashes.
This last group has tried a lot, but no matter what, it does not seem to reach the method, the instrument or the ideal way to do it, because it fails to maintain a decent saving for more than three months in a row. However, although we think that it is a lack of awareness or technique, there are some characteristics or features of our personality that also prevent us from saving and that, if we aim to change them, we can definitely improve in that area.
Lack of control
This is a classic thing in bad savers. Not being able to resist a craving, even if they no longer have money to pay for it, or be victims of compulsive or emotional purchases, is a classic for them. It is necessary to work in the limits and in the lack of control to be able to stick to the budget (in case you do not have one, believe it). Remember that you don’t always have to give in and it’s good to learn to say no.
Getting to see an amount of savings that makes you feel good and say “I’m doing it” may take a few months. Many people get discouraged every week because they think they are not saving enough or that money is not growing. Even when opting for a Term Deposit or savings account, interest will be seen over time. Therefore, it is necessary to understand that saving for a goal requires a certain period and that the best is constancy.
FOMO (Fear Of Missing Out)
It means “Fear of Missing Something” and is a problem mainly for young and young adults. They want to participate in all the activities that their group plans, be at all meals, go to the movies, buy the same things, etc., because they do not want to be “out of the group” or clash. This leads them to spend more money than they should on these things. Again, the importance of the budget is vital and to understand that it is not necessary to be in everything, all the time.
If you manage to understand what are the traits of your character that make it more difficult to save, you can work on them and start meeting their goals. Also, do not forget that another element that will make your task easier is a savings account, as it will allow you to keep money out of sight and receive interest at the end of the month.
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