Personal Finance Excuses That Are Keeping You Poor

empty pockets

Sometimes, it’s easier to come up with excuses than to face our challenges head on. We could write a long list of reasons that are preventing us from improving our current situation. These reasons may include things like a less than desirable salary, a growing family, a seemingly endless stream of bills, you name it. The list seems endless.

However, if we take a few steps back and take a closer look, many of these reasons may just turn out to be excuses we tell ourselves, and over time, they could even hinder us from getting ahead financially. So, if you want to have a better future for yourself and your family, it’s time to finally put these common excuses to rest.

I’m not making enough money to save.

This is one of the most common excuse that many people make. They don’t think about paying themselves first. It doesn’t matter how much money you save. If you put aside a few hundred dollars each time you get paid, your savings will accumulate over time. There’s no better time to start saving than the present.

Even for some people who are making good money, they still procrastinate and make excuses. If you put off saving money, you might find yourself under more pressure to catch up because you’re running out of time.

So, don’t wait until you’re too old to start saving. While there’s still time, start paying yourself straight away. Put at least 10 to 20 percent of your income towards savings. You’ll thank yourself later for doing this.

The money I save won’t make any difference.

We understand where you’re coming from. It seems like the odds are stacked up against you. The cost of living continually rises, incomes stay stagnant, and you need to earn at least three times of what you’re currently making to assure any sort of financial security.

So, no matter how much you save and how hard you try, your efforts won’t make any difference in the end. But just like with any type of challenge, when you give up even before you try, you’re only setting yourself up for failure.

Always keep mind that saving money is like making a snowball. The minute you get it rolling downhill, and it starts to gain momentum, the bigger your snowball will become. The experience of saving will get easier and better once you get started.

Life’s too short to deprive yourself.

We won’t argue that life is short, but this is even a more compelling reason to save as much as you can and to live frugally. It may seem like you are depriving yourself of even the simple pleasures you deserve. You may feel like all you do is work hard every single day and don’t give yourself any reward.

This shouldn’t be the case at all. Sometimes, all it takes is knowing what you need from what you want. Give yourself enough time to think before making a purchase, especially if it’s a big-ticket item. Ask yourself multiple times, “Do I really need this?” before deciding to go ahead and spend your hard-earned money.

I just feel so helpless.

When you’re in debt, it’s easy to feel powerless. The bills just seem to pile up faster than you can earn money every month. But if you give in to this feeling of helplessness, you will only end up hurting yourself in the long run.

The good news, there is a wealth of free information you can find online to help you manage your family’s finances. All you need to do is spend some time to research. Go online and look for expert advice.

Sometimes, all you need is a little encouragement. When you feel more confident, you’ll be able to make better financial decisions moving forward.

When you’ve finally put these excuses to rest, it will be easier to take on any challenge, get your finances in order, build a stronger credit standing, and have a better chance to get approved for car financing.

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