Do you ever scratch your head when you look at your bank balance and wonder, how come I never seem to have any money? Well, you are not alone. In fact, many of us have had the same experience at one time or another.

However, there are usually reasons behind this phenomenon that can be dealt with. Read on to find out that they are.

You are bad at budgeting

Budgeting is regarded as a basic life skill. Unfortunately, there are still so many of us that are terrible at creating and sticking to a budget month by month, and this is something that can severely our balance.

Luckily, there is help for even the most hopeless case. In fact, a simple Excel spreadsheet where you log what your monthly outgoings are, as well as what you spend can make all the difference.

Of course, if you fancy a more convenient and high tech option there plenty of apps on the market that are designed to provide this service for you as well.

Your investments are poor

Get educated before you invest.

Investing is often touted as a way to make your money work harder for you. However, it is an action that can result in loss as well as gain, something that can put a severe strain on your bank account.

Luckily, investing is a skill that can often be improved by studying both the markets and the form of individual companies that you hope to invest in. Check out this guide to getting started here for more detailed advice.

You are not collecting what you are owed

Often time when people’s bank accounts are low, it’s because they are not collecting what they are owed from others. It may be that they are ignoring a debt that a friend has to them, or they are failing to get their expenses forms filled in on time.

It may even be that they are paying for medical and rehabilitation bills from their own money when they could be entitled to compensation that would help with this.

Luckily, all these things can be rectified, including seeking compensation, something that you can get help with if contact a personal injury lawyer to take a look at your case. Then, if successful you may find that your bank balance is significantly higher because your medical costs are now being covered.

You chose the wrong bank account

Lastly, some folks end up having a low bank balance because they don’t choose the right bank account in the first place. Sadly, this can have a significant adverse effect on the state of your money because of things like interest rates, charges, and the bonuses that are available.

With that in mind look for accounts that offer cash bonuses when you sign up, as well as each month. It is true that such accounts often require a fee to be paid pay, but usually, you can earn this plus more back. Something that can help to ensure your account balance is as high as possible at the end of each month.