Putting money away can feel like an uphill battle.
Immediate expenses often take precedence over setting money aside for the future. There’s always a reason — small or big — why saving more feels impossible.
That doesn’t mean you’re destined to have meager savings forever. Below are four typical barriers that stop people from saving — and practical fixes to help you move beyond what’s holding you back.
How to Get Past 4 Savings Roadblocks
Chances are one or more of these familiar savings pitfalls rings true for you. It’s time to clear those monetary hurdles.
Roadblock #1: There’s Never Any Leftover Cash to Save
If you wait until the end of the month to sock away whatever remains from your paycheck, you’re setting yourself up to fail.
Prioritize saving by paying yourself first. When you receive your paycheck, build the habit of transferring money into your savings account before you pay bills or go shopping. Even better: set your direct deposit so a portion of each paycheck is automatically routed to savings.
To determine how much you can reasonably set aside, you need a budget. Tracking your expenditures reveals how much of your income goes to necessities, what’s spent on wants, and where you can trim to free up funds for saving.
Even if you can only stash away a modest amount each month, consistently saving every payday will grow your balance over time.
Roadblock #2: Saving Feels Boring
Let’s be honest: saving money isn’t the most thrilling pursuit.
When saving feels like a chore or punishment, it’s difficult to stay the course.
One way to make it more tolerable is to set SMART goals: specific, measurable, attainable, relevant, and time-bound.
A SMART savings target gives saving a purpose and makes your path forward clearer.
Saying “I want to save for a trip in October by putting aside $200 a month” will motivate you. Vaguely saying you want to “save more this year” — without a timeline or concrete steps — makes it easy to abandon the effort.
Another tactic is to try a savings challenge. Ideas like the $5 challenge or the 52-week challenge add a game-like element to putting money away. Invite a friend to join you for extra accountability and encouragement.
Roadblock #3: I Keep Dipping Into My Savings
You won’t build meaningful savings if you stash money away only to spend it again shortly after.
Of course savings are meant to be used eventually — but not constantly. The issue arises when you can’t set clear limits around your savings.
Keeping your savings separate from your main checking account can help. Make it less convenient to move money out.
Park your savings in an account you won’t access readily. If that account has a debit card, destroy it. Think about using an online-only bank instead of the local branch you pass every day.
You might also open several savings accounts to keep different goals distinct. For example, maintain one account for emergencies and another for other goals like a home down payment or a vacation.
Roadblock #4: I Live Paycheck-to-Paycheck, So I Can’t Save
When your earnings only cover bills, the practical solution is to boost your income.
Try taking on a side hustle — or two — and dedicate that extra pay to savings. Alternatively, have a conversation with your manager to make the case for a raise.
Changing jobs to secure higher pay is another route; be sure to negotiate your salary to maximize the offer.
Once your income rises, resist lifestyle inflation. Maintain your prior spending level and funnel the additional cash into savings.
Alex Morgan is a senior writer at Savinly.
