Many of us struggle to save money at some point in our life, some of us struggle our whole lives with this.  We are here now though and trying to fix it, no reason to beat yourself up. The trick is, to change the cycle now and put yourself in a different position.  If you are busy trying to figure out why you are struggling to save money, here are 5 reasons why it may be happening.

1. Low Willpower.  We have all struggled with willpower to some degree.  Be it a diet, or one too many Netflix marathons, or, yes, spending too much money.
2. No written budget.  A written or computer or app budget will make a massive, massive difference in your ability to save money.  Knowing exactly where your money is going is key to being able to control your spending.
3. Present bias.   Present bias is described as placing the importance of an immediate reward over a future reward. For example, imagine that you have found with an unexpected $5,000 that can be used toward a down payment on a home or as a healthy deposit in your savings for the future, but you choose to spend it on a vacation because that sounds like more fun right now.  Sound familiar?
4. Keeping up with the Jones’.  I get it. It’s hard to watch all of those around you get nice things while you are working your tail off still driving the same old car.  I understand that it is frustrating. Just remember though, that all of those fancy new things cost money. Money that can serve you better being saved for your future.  What would you rather have? A nice car with a huge car payment for the next 5 years? Or would you rather use that money to pay off your mortgage 5 years (or more) sooner?
5. Not enough income.  Okay, this one isn’t exactly true, because you can almost always save money, however, it is easier to save it if you aren’t stretched thin with your income.  Consider taking up a second job or starting a new side hustle. This will help you pay off any debts that you have and get a jump start your savings.