8 Excuses That Are Preventing You From Saving

8 excuses

How many times have you said

I want to or I should but…

We all have good intentions to do things but we seem to come up with an excuse or a reason not to do something.  This creates a road block which prevents us from accomplishing what we set out to achieve.  I say it often I would like to or I should but never do it.

The only way you will  reach the achievements you set for yourself you will have to move past these road blocks.

And instead of saying I want or should begin to say I will.

An area of our personal financial lives I heard this term is when it comes to saving money.  I hear many excuses why we are not able to save money each month.

What is your excuse for not saving money?

I should save more but I am young and I have time to catch up. 

The sooner you begin to save money the better off you will be.  You will actually save less each month if you start sooner due to the compounding effect of your money.  Save now you will not have to worry about trying to catch up as you get ready for retirement.

I save enough

You believe you save enough.  What percentage of your gross income are you saving annually?  Are you currently maximizing your retirement savings such as 401k or IRA?  Have you contributed the max to 529 plan or Health Care Saving plan?  If you are maximizing all of these accounts you get a huge high five and I want to interview you to learn how you are maximizing your savings.  If you are saving enough, your you able to retire today and not worry about going back to work.  I believe you can never save enough.  You should save as money money as you can.

I don’t earn enough income to save

Everyone is at different income levels but each of us has an opportunity to save.  Even if you are only saving a small amount each month it’s better than not saving at all.  Start with a small percentage of your income or maybe just start saving a few dollars each week.  By starting you are taking the necessary steps to save money.

I try but can’t save

What have you tried?  Try saving a small amount like $50 per month or pay check.  Saving is about attitude.  Have a can do attitude and I guarantee you will be able to save.  Take the first step by finding a system that works for you and implement it.

My expenses are high

If your expenses are too much to save, it is time for a financial assessment to see where you can possible cut some expenses.  You say you have a lot but there maybe some fat in your expenses that you can trim.  If it’s a little as $50.00 per month that is better than nothing.  What you are able to trim from your expenses?  There is always an expense you can eliminate so you can save.  What expense can you eliminate for a week so you can save some money?

I have to much debt

If too much debt is your excuse, it time to reevaluate your debt plan.  Are you not saving because you are aggressively paying down your debt?  If this is the case possible consider reducing your aggressive plan slightly.  It may not sound like the most logical thing to do.  Consider this, if you are not saving because to you putting the funds towards paying off debt that means you are not saving for an emergency fund.  If you don’t have an emergency fund,  you will probably have to use debt to cover any unexpected expenses which will put you back into debt.  I am sure that’s what you want to do.  If you have a significant amount of debt,  consider putting some money sided in case of emergency.  All of your hard work to pay down you debt can go down the drain with one unexpected expenses.  Looking for ways to eliminate debt here is a Simple 6 Step Process to Eliminate Your Debt.

I don’t know where to start saving

I hear this one often.  You don’t have to have  the perfect start but you must start some where.  There are many places you can start to save money.  The quickest and easiest way to save money is to have funds take directly out of your pay check.  This simplifies the process.  You set it up and it’s done for you each pay period.  What’s easier than that.  That’s just one place to start.  There are others but start there first if you are not sure where to begin.

I am not sure how much to save

If you are not sure how much you should be saving.  Just start with a small monthly amount each month and then raise the amount every few months if you see you have some extra money.  Also check out the automated system created by Digit.  It monitors your account to determine the amount of money you can save and then it automatically saves it for you in a separate account.  That’s a place to start if you are having difficulty determining how much you need to save.  If you want to learn more about Digit watch this video.


I believe those are the majority of the excuses I have heard.  Now its time to stop making excuses and actually start saving.

What’s your excuse?

What are you going to do to start saving today?

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