Why Is It So Hard to Save? The Psychology Behind Saving Money — and How to Make It Easier

We know saving is smart. We know it gives us peace of mind. So why is it still so hard to do?

Whether you struggle to get started, keep up, or feel good about saving, you’re not alone — and there’s a reason for that. Saving money isn’t just a numbers game. It’s deeply emotional and impacted by our past experiences.

In this post, we’re getting into some of the psychological barriers to saving — and how to overcome them with simple shifts that don’t require willpower alone.

1. We’re Wired for Instant Gratification

First, saving can be hard because it delays rewards. And our brains? They love quick wins.

Spending money gives us a hit of dopamine — that instant reward buzz. You pay money and get something in return – almost instantly nowadays even with shipping. Saving, on the other hand, often feels like giving something up now for a payoff later. It’s not as exciting in the moment.

Shift this mindset: Turn saving into a reward to help create your saving habits.

• Use visual trackers to “see” your savings grow (like our free savings goal tracker).

• Name your savings accounts. "Emergency Fund" becomes "Freedom Fund." "Vacation Savings" becomes "Beach Week 2025."

• Celebrate small wins: Saved $20? Or Made $50 from Selling Something? Celebrate these small wins along the way as they will lead to big wins over time!

Once you see how your savings can help your future self, then it will become much easier over time. Just think about the next time you have an unexpected expense come up (like a repair or medical bill) and you realize that you have enough money set aside in your emergency fund to cover the expense. That’s when the real gratification will be realized!

 2. I don’t have enough to save

We have heard from so many people that they don’t think they have enough to start saving and don’t think it’s worthwhile.

Those thoughts prohibit you from making progress towards your savings goals and reduce the amount of compound interest you will receive in the future. Small amounts do matter, because they build your savings habit — and that habit is more important than the amount. Once you create the habits and it becomes part of your daily life, then it is so much easier to save. That $5 or $10 you started to save on a weekly or monthly basis turns into $100, which turns into $500, and so on.

Take a look at the example below which compares Hindsight Harry vs Plan Ahead Patty. Harry waits to start saving because he thinks he can “catch up” on his savings. While, Plan Ahead Patty starts saving early with small amounts. Plan Ahead Patty earns more interest despite contributing fewer dollars as compared to Hindsight Harry.

3. Social Media Adds a Comparison Element

We live in a culture of highlight reels, advertisements, and influences. You see a friend’s trip to Italy, someone else’s luxury handbag, a “dream home” reveal — and suddenly your emergency fund or $300 vacation savings goal feels tiny. Or, you might be tempted to spend your hard-earned savings on something that doesn’t align with your financial priorities and goals.

You don’t know their financial reality — or what they gave up to get that thing (or whether they are going into high-interest credit card debt to live that lifestyle). And your goals don’t need to look like anyone else’s to be valid.

Stay rooted in your own values and personal finance goals.

Ask:

• What does financial peace look like for me?

• What would it feel like to have a safety net — even if no one sees it?

• How do you want to set up your savings goals?

Your savings goals are yours and yours alone. You don’t need anyone else’s validation or approval to make and reach your goals.

4. Emotional Spending Clouds Rational Saving

A bad day, a breakup, a long week — and suddenly, the Amazon cart is full.

We often don’t just spend for things. We spend for comfort, for control, or for relief. And that emotional spending can derail our best savings intentions. We have made those emotionally charged purchases and it’s the response afterwards that matters. How you can try to minimize the impulse purchases!

Try this instead:

• Pause before purchases and ask: “What feeling am I really after?”

• Make a list of non-spending comfort strategies: journaling, walking, texting a friend, baking cookies, listening to music.

• Build in guilt-free fun money. Saving doesn’t mean deprivation.

Other ways to help prevent impulse and emotionally charged purchases:

• Don’t save your credit card numbers online – doesn’t make it as easy to purchase

• Unsubscribe from store emails to eliminate temptation sitting in your email inbox.

• Implement a 24-hour rule before making an impulse purchase – if you really want it after 24 hours, then maybe it’s not an impulse purchase.

And, if you still made that impulse purchase despite best efforts (we have all been there) and you don’t really love it when it arrives or you get it home. Then, make sure you return it if it’s within the return window and has tags attached – it’s what we like to call “reverse shopping” aka putting the money back into your bank account!

5. Your Money Mindset May Be Rooted in Past Experiences

Many of our saving habits (or lack thereof) come from childhood messages. Maybe you grew up in a home where:

• Money was always tight

• Saving wasn’t modeled or talked about

• Spending was how people showed love

It’s not your fault — but now that you’re aware, it’s your responsibility.

Ask yourself:

• What did I learn about money growing up?

• What beliefs do I want to keep — and which do I want to change?

You can start your own saving journey that supports your financial and lifestyle goals. You should feel empowered with your savings goals and motivated by all the progress you are making!

Create Systems That Support Your Habits

Saving isn’t about being disciplined and rigid. You should design an automated system that makes saving easier than not saving.

Try these tips to help develop your system:

• Automatic transfers to your HYSA (even $10/week is progress!)

• Direct deposit — send part of each paycheck straight to savings. If you don’t see it in your checking account available to spend, then you won’t miss it!

• Banking apps with round-up features – Have you ever been at a store checkout where they ask you if you want to round up and donate the difference to a particular charity? This is the same concept for your bank account. If you make a $18.50 purchase, then could round up to $19.00 and put the $0.50 towards your savings. If it works for charitable donations, then why can’t it work for your savings account?

• Visual goal trackers so you can see progress. Whether it’s checking your bank account to see the progress or utilizing a tool (like our  free savings goal tracker) sometimes visualization helps to keep you motivated!

The Takeaway

Saving money isn’t just about spreadsheets — it’s about creating the systems and habits so you can easily save for the lifestyle you want to live. When you shift how you think about saving, you’ll naturally shift how you act.

Start small. Stay kind to yourself. And remember: you’re not behind — you’re just beginning.

Ready to Reset Your Savings Mindset?

📥 Download our free savings goal tracker

📩 Got a savings mindset story to share? Email us at hello@liveyourmoneystyle.com