Excuses People Make Why They Can’t Save Money

Why do people find it so difficult to save money nowadays? Although many believe in putting some money aside for when things get rough, they don’t actually manage to save as much as they need. They are well aware that a lack of savings will only cause problems in the future. That is why they make all sorts of excuses as to why they can’t save money.

Here are five of the most common excuses used by people to hide their inability to reasonably contribute to their savings account:

1. It’s Not In My Nature – It is the easiest thing to blame it on your genes. That would mean that your inability to save is not controllable, which is definitely not true. When people make this type of excuse, they simply sabotage their own attempts at saving. However, the “I am not able to” excuse can easily be counteracted by an infusion of positive thinking.

2. Blame It On Your Spouse – As saving is often a joint venture and both partners need to bring their own contribution, people are often tempted to blame it on their spouse. In fact, it is always the fault of their partner who is spending too much, is not willing to save or simply refuses to save. That excuse is not the best since you can always separate your finances and have everything under control.

3. The Too Many Debts Excuse – This is a common excuse ever. The, the sooner you pay your debt, the less interest you will pay and the more you will save. With every debt that you pay, you regain financial freedom and can save money.

4. My Income Is Simply Not Enough – Your income should be enough to cover your expenses and save. That is the best excuse of all as it is really difficult to save when your income is modest. However, remember that your lifestyle should reflect your income. If you adapt the way you live to how much you make, you will be able to save a reasonable amount of money every month.

5. Blame It On The Recession – The economical hardships with its smaller wages and rising prices makes it more difficult to save, but not impossible. In fact, instead of blaming it on the economy, people should adapt to the new environment. They should make the required changes in their budget to adjust their lifestyle to their income. There are things that simply need to be paid, like electricity, but there are things that some don’t really need, like eating out every night.

When you feel that you are making excuses not to save money on a monthly basis, you should remember the reasons why you need to save. Savings help you protect your family in case an emergency occurs, whether it is a serious work accident or a furnace replacement.

It’s important to be able to fuel your dreams and those of your family, whether it is travelling around the world or your children’s education.

What are some excuses you have heard why people don’t save?

Photo by PB Energy Solutions

4 comments

  1. Ya I find it super annoying when ppl complaing about being broke but make excuses for why they can't change their situation. It's all about choice people and working hard. And taking responsibility for your actions.

  2. Dona Collins says:

    I find it ridiculously annoying when people say that I should keep modifying my lifestyle to match my income. My lifestyle is a slim as it gets, and my income goes towards regular bills and medical debt. Period. If I had no debt, I'd be able to live a more comfortable lifestyle. At some point, that debt level will reduce and I'll have more room in my budget. Until then, I can't necessarily do anything "less" than I'm already doing.

    So what do you suggest to those who have had true financial emergencies and are just spread as thin as possible?

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