3 Common Excuses For Not Saving Money – And Why They’re Not True

Saving money is not the easiest thing for most people. In fact, some consider it downright impossible! However, the truth is that like any difficult task, saving your money will take a lot of effort – and a plan. It’s important to arm yourself with the right information and be prepared to change.

In fact, it could be argued that there’s one major reason why most people will come up with an excuse not to save money. It’s because they’re simply not ready to change their spending habits. Saving money means you don’t get to spend your money they way you’d typically prefer.

Here are three common excuses (or reasons, depending on how you see it), and some expert advice that might help to overcome them:

1. “I’m too young to save”

Many young people associate saving money with retirement, and that seems too far off in the future. What they don’t realize is that the longer you wait to start saving for retirement, the harder it will be. Financial obligations tend to increase as you get older, and developing a habit of saving money tends to become more difficult.


Need a success story? Philip Taylor shares how he and his wife were able to save an average of 20% of their income in their 30s in the following post:

How to Save 20% of Your Income in Your 30s

Today I want to show you how over the ten years of our marriage (my 30th through my 39th year) we’ve saved an average of 20% of our pre-tax income towards retirement.

In our worst year, we saved 10%, and in our best, nearly 40%! Not bad, right?

20% just happens to be one of the most commonly recommended percentages for retirement savings. Total coincidence, I swear. Read how they did it here…

2. “I’m not disciplined enough


This is more of a fact than an excuse if you’re not already saving. The excuse here is the implication that you are incapable of developing financial discipline. That is simply not true. The challenge for most of us is that we find it impossible to live a life of delayed gratification. Tracy offers her advice on how to get started on this journey:

10 Ways to Delay Gratification

One of the keys to saving money is cultivating the ability to delay gratification. Unfortunately, that’s easier said than done for many of us. Putting off pleasure today in anticipation of tomorrow’s needs doesn’t come naturally to many people. However, there are ways to overcome your natural inclinations and develop more thoughtful spending habits. Here are a few you should try. Click here for the 10 tips…

3. “Life is too expensive”

The problem with this statement is that it implies you have absolutely no control over how your money is spent. That is false. Bankruptcy.

Regardless of how much things cost, you get to choose where your money goes in most cases. In other words, the solution is frugal living!Christine T. takes us back to the depression era for some vital money-saving tips:

8 Depression Era Money Saving Tips

When most people think of the height of frugal living, the depression era is often the #1 time they think about. It was a time when most people didn’t waste anything, used their creativity and ingenuity to solve problems and managed to make it through, even when times were extremely tough and budgets simply did not exist because there was nothing to spend.

When I think of the depression era, I am reminded of how much we waste now and how they managed to use everything without even a complaint. It just was the way things were and everyone contributed to the household. If you would like to employ some good, old-fashioned money saving tips that they used in the depression era to save your household some money, here are 8 forgotten depression era money saving tips to start using now. Click here for the 8 tips…

There will always be something to prevent you from saving. That doesn’t mean you cannot find a way around it and improve your financial health, particularly if you’re in debt. Start developing your money-saving habits today.

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