Everyone has excuses for things not being completed in their life. We make excuses for not going to the dentist, not paying a bill, and not doing the laundry. Of course there are also excuses for not saving money and some of these excuses are not the smartest ones. Below are several of the worst excuses for not saving money that people have.
I Do Not Make Enough Money To Save Money
The excuse of not making enough money to save money is one of the most popular excuses around. However if every person waited to save money until he or she made money no one would have a savings account. Every person needs to create an account of emergency funds. There is no set amount that needs to be saved each week but putting something into that account is better than not putting anything into it. Once your income starts to grow then you can start saving more money each week.
I Am Going To Receive A Large Inheritance
Many people do not save because they believe that they will eventually receive a large inheritance. This is something that you do not want to count on having until it is yours for sure. You should not depend on a monetary inheritance to jumpstart your savings account. You should stop and think about what would happen if the inheritance did not come through as you planned on it. If you start your own savings account then you will have nothing to worry about it you do not end up getting the inheritance.
I Will Start Saving Later
If you are planning on starting to save your money later you can almost bet that it is not going to happen. A good plan of action is to start saving early. The earlier you start saving the more money you will earn in interest. If you know anything about saving money you will know that the interest will add up quickly.
I Am In Too Much Debt
The first thing to remember when you are in a large amount of debt is to not give up. The first thing you should do is to stop the behaviors that are contributing to the large amount of debt that you already have. What this means is that you should live within your means and not have to put things on credit cards. Once you are here then you need to start paying down your debt. It is important that you have a goal and a timeline in which to meet that goal. This will help you to start saving your money as well as getting out of debt at the same time.
I Will Never Save Enough Money
If you are frustrated with the amount of money you are saving and you are beginning to think that you will never have enough money saved you might feel like you are fighting an uphill battle. It is important that you do not give up and you keep saving. This is a challenge that you will need to fight your way through and before you know if your nest egg will keep getting bigger and bigger.
We all know that living and trying to save money in this economic time is not a simple thing to do. However if you put your mind to it and try not to deconstruct you will find that your savings account will continue to grow. Even if you are only saving a few dollars each week you are saving something and something is better than nothing.
Image credits to : Dan Moyle