Money and insurance

8 Excuses people use not to save money

“I don't have enough to save.” “I'll have more money in the future, anyway.” Are these words you’ve already said once or twice? They’re not reasons but excuses. Here are six others people give. Which excuse do you use?

December 28, 2016
FWD Life Philippines

It’s a fact that it’s easy to spend than save money. I mean, with the skyrocketing prices and the new gadgets and clothes being sold, how can you not give in? Besides, all those computations and money matters just terrify or bore you.

But saving money is a task that you need to incorporate in your monthly routine. It’s a must in preparing for your future. To those who are still in denial and are still delaying the inevitable, here are excuses that people make just to avoid saving. Which one is yours?

Excuse #1: I worked for it. I deserve to spend it.

No one is stopping you from spending your own money. But don’t forget to also save so you will have something to spend later on when you are not earning as much. Think of it as delayed spending. You’re still gonna spend it. Just not today.

Excuse #2: I don't enough enough to save.

If you know how to budget, you will have enough money for your basic needs and for savings. The trick is to take out the amount that you need to save and put it away. What remains is what you can spend. Believe it or not, you’d be able to save money, regardless of how much you earn.

Excuse #3: I'm too young. I've just started working.

Umm… no one is too young to save. Even kids have their piggy banks. Just because you are young does not mean the future isn’t your concern. Save money now so you can enjoy your future.

Excuse #4: I'm too old to save. It’s too late for me.

No one is too young or too old to save money. As long as you are still earning or have a steady income, you can still save. The earlier you start, the better.

Excuse #5: I'm bad with money.

Granted that you’re one of those people who are just an absolute crap when it comes to handling money. Well then, go get some help. Ask your mom or a friend to give you tips or pointers. There are also financial advisers who are ready to help you manage your finances and even give investment advice.

Excuse #6: Why do I need to save? I'll have more money in the future, anyway.

Nothing is ever sure in this world. Who knows? You might lose your job or your income tomorrow. Do not depend on something that you do not have yet. Save now so you’ll have a fall back in the future.

Excuse #7: I'll do it tomorrow.

This is probably one statement that we’ve said out loud or to ourselves at least once in our lives. “I’ll save tomorrow.” The downside is sometimes, even if you want to save, you get caught up with the all the other things that you need to do. So here’s a tip. Save now. Right this minute. Don’t wait to do something tomorrow when you can do it today.