It has been well documented American’s have had a difficult time in terms of saving money. Regardless if you are saving for a down payment on a home, or retirement, Americans are having an increasingly difficult time. The possibilities and reasoning behind these difficulties are numerous. Below are several reasons which continually hamper our saving aspirations.

Over The Limit
It is quite obvious some Americans simply live outside their means. Do not confuse this as an individual not making enough money. A person who lives outside of their means typically will purchase a flashy home or car. They will have the latest and greatest phone or gadget which they are always replacing with “the next big thing.” They dine out regularly and sabotage their savings frequently.

Over Estimators
Individuals, especially those saving for retirement, may overestimate their savings and pensions. If an individual is saving for retirement, they may want to speak with a financial planner who is well versed on the subject. A financial planner will help you meet your goals.

Credit Junkies
Americans have an unhealthy obsession with unsecured credit debt. It is not uncommon for individuals to have three or four credit cards in their wallet. Some of these credit cards have interest rates approaching thirty percent. If an individual is to have any hope of saving money, they will have to first get from under any credit debt they may have.

Easy Access
At no point in history have Americans had such easy access to the money in their bank accounts. With an ATM machine on every corner and a debit card in every wallet, we spend money like mad. Checks are a thing of the past. No longer do we have to endure the pain of writing out a check. Today, the swipe of a card means money in our pocket. Such easy access to cash means our savings dwindle.

Though the above reasons may not particularly pertain to you, they pertain to many Americans. Some estimate two out of three American have deep concerns in their retirement savings. The American credit debt, though down, is still close to a trillion dollars. Even our federal government has a difficult time in terms of relying on credit debt. The point is, everyone is in the same boat together. Build a spending plan and stick to it. You will be on your way to saving for that Jet Ski in no time.