9 signs you probably aren't saving enough money, even if you think you are

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Even if you bring home a big paycheck, it doesn't mean you're building wealth.

If you can barely pay your bills each month, aren't saving any money in a retirement plan, or are spending more than 30 of your income on housing, you're probably not saving enough money.

See Business Insider's picks for the best high-yield savings accounts

Earning a lot of money doesn't necessarily make you rich. After all, net worth is a much better indicator of true wealth than income.

At the end of the day, no matter what your paycheck reads, you still have to save and invest your money, and manage your debts, if you want to accumulate wealth.

Are you setting aside enough? To help you evaluate, we've rounded up nine red flags that indicate you're off track.1. You can barely pay your bills each month

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Are you just meeting your obligations each month? Living paycheck to paycheck makes it nearly impossible to build up significant savings.

How to improve: You have two options: Earn more money, or spend less. If you go the first route, consider looking at some lifestyle changes to make, steps to negotiate a raise, and ways to make extra cash while working full-time.

If you're aiming to spend less, consider saving strategies from everyday people who retired early. You may also want to think about reducing your largest costs, like your rent, transportation, or food spending.

2. You tell yourself you'll save more when you start making more

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This is one of the most common "money lies" people tell themselves, Patrice C. Washington, author of "Real Money Answers for Every Woman," previously told Business Insider.

"How you manage 100 is likely how you'll manage 100,000," she says. "You're the same person with the same attitude, and the same behaviors and habits. It's not about getting more money. It's about being more disciplined with the money you have."

Plus, she adds, "when I earn more" isn't a date of action. "Someday is not a day on the calendar. We really have to do a better job of buckling down and saying 'I'm ready to take action.'"

How to improve: Don't wait until the new year, after graduation, for a birthday, or when a tax refund arrives in the mail to start saving.

Think about your savings as a fixed cost something you must pay every month, like rent and your cell phone bill before you spend on dinners out and other "wants." Next, consider setting up a recurring automatic transfer from your checking account to a savings account this way, you'll never even see the money and will learn to live without it.

3. You haven't started saving for retirement

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Saving for retirement can't wait, no matter how far off it may seem.

If you're putting it off, you're not alone: A third of Americans have 0 saved for retirement, according to a GOBankingRates survey. Moreover, the survey found, 80 of Americans have less than 1,000 put away.

How to improve: Saving for retirement can take a few different forms a company-sponsored 401 k or an IRA are two of the most popular savings vehicles but no matter how you choose to save, the best thing you can do is start early.

Many experts recommend setting aside at least 10 of your income. That being said, if you're only comfortable with setting aside 1 , it's better to start there than not get started at all.

Here's exactly how to figure out how much money you need to retire.

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