Top 8 Things That Make Saving Difficult and How to Overcome Them

The need to save money is one of the most universally agreed-upon financial goals. Everyone, from schoolchildren to top financial advisors, will understand the value of saving. Unfortunately, it remains a persistent challenge for countless Filipinos.

At some level, you can’t really fault most people for not saving nearly as much as they should. Between daily expenses, rising costs, and decades of financial exclusion, setting aside a portion of one’s income is not necessarily seen as doable.

The intention is there, but the macro and microeconomic reality experienced by many often pushes saving to the bottom of the priority list.

Still, once you identify the specific roadblocks, it becomes possible to limit their impacts. First, let’s get into why saving feels difficult. In the Philippines, it’s often because of invisible barriers, not the lack of banking options.

Unclear goals, inconvenient processes, psychological hurdles, or simply not going with the right financial solutions can set one up to fail. Recognizing these barriers as what they are will be the first step toward overcoming or dismantling them.

Again, choosing where to save is almost as crucial as the act of saving itself. The top banks Philippines-based savers trust are not always the ones with locations on every corner.

Indeed, emerging digital banks like Maya Bank are often the better choice, thanks to their customer focus, better interest rates, and features like daily interest crediting.

This is all to say that the right financial partner doesn’t just hold your money but should also provide the features and accessibility that convert otherwise sporadic savings into a consistent, rewarding habit.

Just remember that saving is rarely just a matter of good intentions or better tools. Even with the right account in place, you still have to build critical momentum. Let’s dive into the common obstacles that hinder saving, along with practical strategies to address them.

1) Keeping All Your Money in One Place

When your spending and saving funds are mixed in a single account, it becomes psychologically challenging to preserve what you intend to save. Every purchase becomes a temptation to dip into funds meant for the future.

How to Overcome It: The simplest fix is to separate your funds immediately upon receipt, preferably allocating a portion of your income to a dedicated, high-interest savings account the moment it arrives.

Use modern digital banking platforms to make this seamless, through easy transfers and creating multiple “savings buckets” for different goals.

To this end, you can try Maya’s Personal Goals feature for putting money into specifically named sub-accounts or setting aside money you won’t need immediately into a Time Deposit Plus account, where it can be left alone to earn interest.

2) Not Paying Yourself First

Many people save only what’s left over after all expenses are paid. This “save what remains” approach almost guarantees that saving will be inconsistent. That is, if there’s anything left.

How to Overcome It: The first thing to do is to treat your savings like a non-negotiable bill. It helps to “pay yourself,” psychologically speaking, by thinking of your main savings account as an employee payroll for your future self.

As soon as you receive your income, transfer a predetermined amount, even if it’s just a small percentage, directly into your savings. After all, you deserve to be a priority, and not an afterthought.

3) Lack of Clear, Motivating Goals

Saving for a vague concept like “the future” provides little emotional fuel. Without a reason to save, it’s easy to justify skipping a transfer for a more immediate want.

How to Overcome It: Define your why. Give your savings a specific name and purpose, with descriptors like ”New Laptop Fund” or “Emergency Medical Fund.” Doing this can help you visualize the end goal and make the process meaningful.

You can use features like Maya Personal Goals to label separate savings pockets for each goal, which will allow your money to take on that important meaning.

4) Inaccessible or Inconvenient Savings Processes

If accessing your savings account requires visiting a branch or navigating an annoying app, you’ll start finding excuses to avoid saving.

How to Overcome It:  A user-friendly, always-accessible mobile app lowers the barrier to saving—so much so that it makes sense to switch banks if your current one has a disappointing user experience. Look for features like easy transfers and clear dashboards that show your growth at a glance.

5) Low or No Interest on Saved Funds

When your savings earn minimal interest, growth feels stagnant. This can be demotivating, especially when inflation comes into play.

How to Overcome It: Unfortunately, many traditional banks have interest rates that are so low, they’re little better than keeping your cash under your mattress.

Seek out a savings account that offers a competitive interest rate, preferably from trusted digital-first banks with good apps and a wide ecosystem of useful offerings. A Maya Savings account, which can earn you interest of up to 15% per annum, is a good place to start.

6) Frequent, Unplanned Small Expenses

Impulsive purchases like unplanned food delivery or non-urgent online sale items can easily drain thousands of pesos from your potential savings each month, with no lasting benefit to your lifestyle.

How to Overcome It: It’s as good a time as any to practice mindful spending by implementing a 24-hour rule for non-essential purchases.

Also, if your banking app allows it, check your transaction history to audit these “micro-expenses.” Seeing the monthly total can be a powerful motivator to quit these unnecessary drains on your savings.

7) Feeling Overwhelmed by Large Financial Goals

A goal like saving for a home down payment or a tuition fund can feel so massive that getting started seems pointless. But if paralysis sets in, progress becomes impossible.

How to Overcome It: Break every large goal into tiny, achievable milestones. Instead of focusing on PHP 500,000, focus on saving PHP 5,000 this month. This “chunking” method builds momentum and makes the journey feel more manageable.

Forget the big goal for now and just put your energy into getting started. Circle back a year or so later, and you’ll be surprised by your progress.

8) Comparing Your Savings Journey to Others

In the age of social media, it’s easy to feel behind when comparing your savings rate to others. This comparison can lead to discouragement or reckless attempts to catch up.

How to Overcome It: Remember that personal finance is, first and foremost, personal. Your journey is unique to your income, responsibilities, and goals. And because social media has a way of distorting things, chances are those other people are doing as well as they’re projecting.

Forget about them and focus on your own progress charts, not someone else’s highlight reel. Consistency in your own lane is what leads to long-term success, even at modest speeds.

Building a Saving Habit That Lasts

In context, consistent saving is most often about managing a variety of small obstacles. The key to overcoming them lies in a two-part strategy.

First, build self-awareness to identify your personal hurdles. Second, with your personal challenges in mind, start leveraging the right systems and tools to make the positive behavior automatic.

Start by tackling one or two obstacles from this list. As you implement the solutions and watch your savings grow, your confidence in your nascent financial management skills should also improve as well.