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Why Your Piggy Bank Hates You And How To Fix It

Why Your Piggy Bank Hates You And How To Fix It

People often have strong feelings about money because it affects many aspects of their lives, like feeling secure, having freedom, and being happy. Some of you feel stressed or worried about it, while some of you feel secure and confident. 

Aren’t you fortunate?

But money isn’t just about one person—it affects whole families, friends, and communities too. Understanding how money works and how it affects our lives is incredibly important. 

At the end of the day, we all have certain financial goals, such as buying a house and saving for retirement. However, for some, spending habits don’t align with these objectives.

So, let’s explore 5 main reasons why your piggy bank hates you and how to step up your finances.

1) You fall into the trap of overspending 

Do you ever feel like your piggy bank is silently weeping every time you swipe your credit card for yet another impulse purchase?

Many of us fall into the overspending trap. Impulse purchases, expensive lifestyles, and keeping up with our the Joneses often lead to financial stress. 

And I get it. You promised yourself it was just going to be a “quick browse” on Amazon, but suddenly, your cart was full of things you never needed. 

How to fix it?

1) Think about it and press a pause button.

Next time you’re tempted to make an impulse purchase, pause and ask yourself if the item is a need or a want. By distinguishing between needs and wants, you become more mindful of your spending habits.

Ask yourself if this new flower dress or those Nike shoes are really needed. Go and actually walk to your closet and check if you already have one. I bet you do. I’m not saying you don’t ever treat yourself, but something cheaper might make you happier. 

2) Keep track of your spending to pinpoint areas where you’re spending too much.

3) Make a practical budget that divides your money for necessary expenses, savings, and non-essential spending.

There’s a famous 50/30/20 rule, where you allocate 50% of your income to rent and utilities, 30% to non-essentials such as dining out and cinema, and 20% to savings and paying off debts. 

But with today’s inflation and prices going up, you also have to ask yourself if 50% is actually enough for the essentials. If the rent went up drastically, would 50% be enough? Maybe even more than 60% is needed, so keep track.

2) You ignore budgeting

Talking about budgeting, you actually neglect to create and stick to one. Neglecting to develop a budget is a common mistake that can result in financial disarray. 

Maybe you don’t understand the impact the budgeting has on your finances. Perhaps you’re scared to create one because you don’t know where to start. And just perhaps your busy schedule doesn’t allow you to maintain it. 

It’s the eternal struggle between budgeting responsibly and indulging in that extra cup of coffee the barista promised would change your world. 

In all fairness, what I’m about to show you is a bit of a time-consuming chore, but it gets easier. It is like learning a new skill. It seems a bit overwhelming at first, but then it becomes second nature.

How to fix it?

1) Use budgeting tools or apps to track your spending.

Take your time to create a detailed budget that accounts for all of your income and expenses. If you’re not great with spreadsheets, use budgeting tools or apps to track your spending. There are plenty of them. 

2) Monitor your progress toward your financial goals. 

Don’t just add numbers. Monitor what you enter to see how it affects your spending. Review your budget regularly and make adjustments as needed.

3) Involve your partner or family members in the budgeting process to encourage transparency and accountability.

This is crucial for two reasons: accountability and support. When everyone is on board, tasks become more manageable, and you’ll find the motivation to keep pushing forward.

3) You neglect to save

You neglect to save

Your piggy bank is worried about your financial security when you don’t have an emergency fund. 

Look, life happens, and unfortunately, if you don’t have a safety net, you’ll struggle to get funds. 

Failing to prioritize savings is a common mistake that can leave us financially vulnerable in the long run. Whether it’s for emergencies, retirement, or significant expenses, saving money is very important. 

Having a new car is great, but do you really need a new one? 

How to fix it? 

1) Set up automatic transfers from your checking account to your savings account each month to ensure consistent savings. 

2) Start with small, manageable amounts and gradually increase your savings rate over time.

3) Aim to save at least three to six months’ worth of living expenses.

4) You don’t pay off your debts

Many people find it hard to manage their expenses nowadays. The salary that seemed decent two years ago now feels inadequate with the rising prices of everything. Everything costs more, but your salary stays the same. 

So, what do you do? You resort to borrowing money. Maybe you take out loans or rely on credit cards. But if you can’t pay them back on time, it can lead to a lot of stress. 

Also, once you get into a habit, borrowing money becomes a new way of life.

How to fix it? 

1) Create a plan to pay off your debts on time.

2) Focus on paying off debts with high-interest rates first and put extra money towards them.

3) Think about combining your debts using a balance transfer or personal loan to reduce interest rates and make paying them off easier.

4) Focus on improving your credit habits by making timely payments and avoiding new debt

And don’t be afraid of negotiating with creditors for better terms.

5) You avoid financial planning for the future

financial planning for the future

The truth is, without a financial plan, you’re leaving your financial future up to chance. Some people fear they’ll not succeed in achieving their financial goals, so they avoid planning altogether. 

Not everyone is a finance guru, either. You may feel overwhelmed or uncertain about where to start. Whether you’re intimidated by budgeting, hesitant to invest, or simply unsure where to start, just know that not everyone is knowledgeable about everything, and you can learn a lot of things step by step.

How to fix it?

1) Firstly, face your fears about financial planning.  

Whether it’s a fear of confronting debt, uncertainty about the future, or simply feeling overwhelmed by the process, recognizing and addressing these fears is the first step toward positive change.

2) Begin by setting achievable short-term goals, such as creating a budget, paying off a small debt, or saving a modest amount each month.

Start small. It doesn’t have to be that daunting. If you start with something you can manage, your confidence will grow. 

3) Learn about basic financial concepts and strategies.

There are plenty of resources available, from books and online courses to workshops and seminars. 

4) If you can, seek professional help. 

A bit of guidance can never hurt. A professional can provide personalized advice tailored to your specific circumstances and goals.

5) Try to stay flexible because financial planning is not set in stone.

Life circumstances and priorities may change over time, and you should be more adaptable. Review your goals often, and keep track of it all. 


Facing money problems can really stress you out and make life harder. Things like owing money and not having a job can even affect your health.

That’s why planning for the future is incredibly important. It means deciding what you want to do, making budgets to help you save money, and putting some cash away for later, like when you retire.

Planning helps you feel more secure about what’s coming next in your life.