10 Common Excuses People Give for Not Saving Money

common excuses

There are many people in this economy who have legitimate reasons for not saving money. But there are also a lot of other people who claim that they’re incapable of saving money when saving money would only require them to make some small changes to their finances or spending habits. These are the people that always have an excuse why it’s impossible for them to begin saving now. While they might think that their excuses are valid, most of the time they are simply nothing more than excuses. below you can fins some of the more common excuses for why people say they can’t save:

“I can save later”

Many people claim that the reason they aren’t saving money i

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11 Responses to 10 Common Excuses People Give for Not Saving Money

  1. eugene says:

    I don’t think that you truly understand the difficult times people are going through if you are going to write an article saying the people who don’t save money are making excuses. Some of us really don’t have enough money to save and writing articles like this does nothing to help us. Instead of blaming people, whether to do something constructive and actually help people learn to save money.

  2. deanna says:

    You do realize that ever article on the Internet isn’t written specifically for you, right?

  3. Petunia 100 says:

    Eugene, if you want to learn to save money, follow these steps:

    1. Open an online savings account with Ally, ING, Emigrant, Barclay’s, Discover, or any other you prefer.

    2. Set up an automatic transfer to happen every pay period. You choose the amount. It is OK to start small.

    3. Every single time additional money comes to you (tax refund, bonus, birthday gift) send some portion of it to your savings account.

    4. Consider setting up “sinking funds” for irregular expenses. Example: save $20 per month for car repairs.

    5. Consider setting up “sinking funds” for irregular bills. Example: save $150 per month for next year’s property tax bill.

    Remember: always save first then spend what is left. Never spend first then save what is left.

  4. getforfree says:

    This is just like shifting your money from one pocket to another. This doesn’t make you have MORE money. In order to have enough money for all those funds and be able to pay your bills, you have to USE LESS now. It means use less food, less gas, buy less or cheaper clothes, use less electricity, cancel cable, switch to a cheaper plan, and so on.

    If you put your money in specific accounts for all those things, you will not have a lot to spend on food and gas and things, and what are you going to do when money runs out and you still have to eat something for the next 2 weeks and fill then gas tank to get to work.

    I often read, save this much for that and this much for that every month. Duuuuh! That’s more than my income. Most people in order to make it on the income they have, they have to look for deals on everything they buy and not waste anything, buy used, keep their cars, clothes, and other things longer, or until they became unusable.

  5. jim says:

    getforfree,
    YOU are EXACTLY right! Live on less than you make and save, save, save! It absolutely can be done.

  6. bben says:

    You can save – maybe not much, but even a little can grow into an emergency fund. Reevaluate your actual spending. Don’t say I absolutely will not consider cutting a specific item. Look at what it costs and what you could save if you did cut out that daily Starbucks cappuccino you get on the way to work. Nearly everyone has some indulgence that they believe they NEED!!! – and refuse to even consider when looking at the budget. In my GFs case it is driving her 2 grandchildren to 2 different schools every day – about 12 miles a day – when the school bus passes right by her home. Estimated savings – $2 a day, $10 a week, $40 a month. (actually much more as she is often bullied into McDonalds on the way home.)

  7. Petunia 100 says:

    getforfree, the idea is to save whatever you are able to save. If you spend $5 you didn’t need to spend, you still manage to juggle with what is left, right? So, instead of spending it, send it off to your savings account.

    And yes, using less is a great strategy. :)

  8. Oluwatoba Ogunmakin says:

    The truth is always bitter. The point you are raising is in the list. Better you try and enjoy the benefit.

  9. DC says:

    I remember the quote, “It’s not how much you earn but how you save money that matters”. No matter how less you are earning there are always ways to save, little by little, and yes with the right strategy and will power, saving money should be easy.

  10. Tony says:

    It reminds of of the book The Richest Man in Babylon. It made this point: If you were forced to take a 10% cut in wages tomorrow, you would still find a way to survive. So, why not just take the 10% cut yourself and put it into savings now?!

  11. Matt says:

    Don’t forget the author writes “there are many people in this economy who have legitimate reasons for not saving money” at the very beginning of this article. You may be included in that statement. The people who he’s talking to who you think is you I indeed not you. It’s the people who have the ability to save but make excuses to not save. If you are incapable then you can’t. Don’t get mad at the author about it.

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