Psychology says people who try to save every penny they can aren't always driven by financial planning alone. Saving money can be useful when it is part of a clear financial plan. But some people find it difficult to spend money even when they can afford to do so. They may worry about future expenses, avoid spending on basic needs or feel uncomfortable when money leaves their account. This behavior can be linked to anxiety, uncertainty, past financial experiences and a scarcity mindset. For some people, keeping money becomes a way to feel safe and maintain control when other parts of life feel uncertain.
