5 crappy excuses for not saving money
People love to come up with excuses for not doing things. Excuses are our brain’s way of justifying our laziness and unwillingness to make change. The problem with excuses, is that 99% of the time they are used when you aren’t accomplishing what you should be accomplishing. Here is a list of 5 of the most common excuses people use for being terrible with their money.
1. I want to spend my money while I am young enough to enjoy it.
I hate this excuse. Young people don’t realize that you don’t have to starve yourself of your favorite things just to save money. Here is the key. You need to automate your savings to reach your goals. After you do that, then use the money left over to spend on things you enjoy.
2. I don’t make enough money to save any of it.
That’s BS. You may not be able to save $1000 a month, but you can save something. Start by setting aside $20 as soon as you get your check. I’d be willing to be that you will learn to live without it. Then as your career progresses and you make more money, you will already be in the habit of saving.
3. I have a big inheritance coming to me someday when my long lost super duper rich uncle passes away.
Get real. Even if you have a super rich relative, they most likely won’t leave you anywhere near the amount you are expecting. Don’t be a turd. Take care of your own money and don’t rely on money you are HOPING will fall in your lap.
4. I’ll get around to it some day.
No you won’t. Just start now and get it over with. The longer you wait, the more money you lose out on. Check out my post on compound interest for a visual.
5. I don’t understand what I should be doing with the money I am saving so I just don’t do it.
This is the most legit excuse, although it is still not a good one. For the majority of people, lacking the information to make a good decision will lead to no decision being made at all. This is where you need to take some on responsibility to educate yourself about possible areas to save or invest your money (the fact that your reading this blog is a good start).
Lastly, you need to realize there is no good excuse for not saving money. You need to remember Rule #76 from Wedding Crashers: “No Excuses, Play like a Champion” and you will be OK.
