15 Excuses That Are Wrecking Your Finances

We all tend to make excuses from time to time. It’s just human nature. But I’ve seen people rely too heavily on excuses when it comes to finance. When they have too much debt or can’t seem to make ends meet they pull out the excuses as to why their life has to be this way. The excuses become a way to avoid dealing with the real problems, which are usually fixable with effort. Here are the most common excuses I hear and how you can combat them in your own life.

I just can’t manage money: Some people get it in their heads that finance and money are just concepts that are so far above their understanding that they’ll never get it. Finance is only for the super int


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13 Responses to 15 Excuses That Are Wrecking Your Finances

  1. kenyantykoon says:

    you would be surprised at the number of people that follow this things that you say in this post. but the one that raises to the top is that “you are only young once”. This is why many young people are enslaved by colossal debt that will take the rest of their lives to pay of and then say that karma is against them because their fortunes are not as good as the “money minded misers” they went to school with. who BTW are now at the point that they can easily afford those shiny toys without taking out loans

  2. Lack of honesty with ourselves, no self-analysis, laziness, and procrastination are all financial devils.

    John DeFlumeri Jr

  3. That’s quite an exhaustive list, and quite an accurate one, for people who end up in debt.

  4. ceejay74 says:

    This is a good list. I think there are some cases where it really wasn’t someone’s fault they got into a situation (e.g., some health crises), but for the most part, looking for someone else to blame, even if it’s legitimate, only slows down the journey toward freedom.

    I’ve used most of these excuses in the past, but I’ve worked through all of them and realized how they were holding me back. The only ones I’m in any danger of slipping into are the “I’ll never get ahead/I’m too old to make up for lost progress” ones. So it’s important to remind myself that any progress I make now is going to make my future that much less difficult.

  5. EricJ says:

    Those are all excuses that I hae heard before. Thanks for posting them. However, one of the biggest REASONS why people’s finances are ruined is because this country has become too dependent upon their credit cards. If people only spent the cash they had in stores instead of using the cards, the economy would tumble. Yet another reason why politicians are not doing much to help in this area.

  6. I hear about complaining and blaming others for their misfortunes all the time. Folks gotta quite whining and start striving!

    If you messed up during HS or college, go to grad school and give yourself another chance.

    Are you only working 40 hours a week? Work 80 to get ahead!

    Never stop striving if you want financial independence.

  7. Excuses that need to stop before it even finished form. These excuses keep us from achieving and we should avoid them. Thank you for a wonderful article.

  8. Matt says:

    yes! i agree! failures is what make successful people once they learn and overcome them.

  9. “Excuses are a way to avoid taking responsibility for your finances.”

    Exactly! And the same people who make those excuses will be the same ones who see people who are successful and say, “Wow… you are lucky!”

    Rule #1. Take responsibility for your own life.

  10. mel says:

    The start later one is usually a big one, along with the simple lack of long-term thinking. This is why meeting with a financial advisor or even knowledgeable friend to show them the benefit of starting early can help.

  11. Gail says:

    I could have cried the other day talking to my brother (a very hard worker) who at almost the age of 50 has finally been able to save a bit of money and what does he want to do with it? He wants to take a vacation in a couple of years. Of course a vacation is a nice idea, but this guy has NO retirement savings, no emergency fund, no nothing, no savings except this $2000 he has earmarked for a vacation! The sad thing is, he will probably have to dig into that bit of savings for something else long before he can take his vacation.

  12. Gail – I say congrats to your brother! If he retires with nothing, let it be. He had a great vacation is doing what he wants. He knows what he’s getting himself into.


  13. Meaghan says:

    nice post! I know I have thought some of these a time or two! I’m sure this will help many readers. Thanks for taking the power out of the excuses!

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