8 Great Excuses Not To Save Money
Don’t you just get tired of answering questions about why you don’t have any savings? It’s like asking a plumber why he is not going for an initial public offering (IPO). The answer is very obvious. Yet people sometimes ask that dreaded question intending to put you down or just to feel good about himself.
Well the next time you run into one of these conversations again at the dinner table, here are some of the tried and tested excuses that have survived the test of time.
I don’t know how to save
People talk about saving money as if it is a skill that is built into everyone the moment they are born. I can’t sleep without the heater on in winter and it’s not worth it to starve myself just to be happier when I see my bank balances at the end of the month.
You are not going to give up your annual holidays because it can compromise your marriage. And you surely cannot afford to be a cheapskate on Valentines Day and Mother’s Day. Family and relationships are what’s most important in life. If spending more money means a happier well-being so be it.
I don’t make enough money
You might be left with some money at the end of each month. But that is hardly anything worth being considered as savings. Enough with the financial geeks who preach about “every penny counts”. Life is more than just theory and equations. And with the never ending financial storms caused by the “smartest” people around, maybe theory is indeed, just theory.
Let’s say you do the “correct” thing and saves that extra $100 you are left with each month. When exactly will you be financially free? It makes no sense. You might as well use it to pamper your children with a day in the amusement park. At least you get to see your children have fun which is priceless.
I have no time for that
People who throw out words from their mouth with thinking are just annoying. And that is most irritating is when they talk a big game as if others have all the time in the world to do anything they want.
A friend might have a lot of free time after work. But that does not mean that everyone else have that luxury. People should practice more empathy before sprouting nonsense that is ridiculous to others. The planet does not revolve around any 1 person.
Yes transferring money to a savings account might take a minute. Making a bank trip to deposit funds can take an hour or 2. But do you have the time for that? And all that to make a measly 0.01% interest? Get a reality check.
The world is so hectic these days that I sometimes cannot even get home on time to catch my favorite drama series. Why should anyone take time out to save money when they don’t even have time for themselves. And this is without mentioning those with children.
Investing is too complicated
Why leave money in a bank and let it inflate away instead of investing it. Since investing activities are not for everyone, you might as well spend your money instead of saving it. At least you get to make full use of your cash before it depreciates against the consumer price index (CPI).
And no. Please do not attend those $1,000 seminars on how to get rich. It is more likely that you will lose money instead of make money. The only people getting rich from these seminars are the organizers. It’s an irony that the people who need to make money most are those that are taken advantage of by the so called “get rich” gurus.
I’m already in debt
It’s a huge paradox that people who feel that they are financially sound enough to give others advice on money are often those that are deepest into debt. Who is anyone to give others advice on savings when they are a million dollar in debt from a running mortgage.
You already have credit card bills and the car loan to service each month, and now someone comes along sitting across the dinner table lecturing you about saving money? When does the time come when you actually use some of your money for yourself?
To make you feel better, the government is trillion of dollars in debt. And they are using debt to repay debts (figure that out). There are no savings. Surely they know something about money that you can learn from.
I’m too young to talk about savings
Forget about the propaganda that insurance agents and financial planners try to brainwash us with. They do this to sell us more financial products that become worthless when the economy crashes. Insisting that no one is too young to start saving is like saying it is not too late to have supper. Of course you can do it. But do you really have to think 50 years ahead when you have no idea what’s in store in the future?
Many years ago, I bought into this crazy stuff and signed up for unit trusts as a form of savings. Now they are worth half of what I paid them for. My wealth was not preserved. The only people who got wealthy were the fund managers paying themselves exuberant management fees for overseeing the funds.
Don’t kid yourself. Saving money from young is not the same as getting rich I future. There is no guarantee that your money will grow.
Why save when interest rates are so low?
Since people are clawing at you with the “save for the future” mambo jumbo, maybe you should really look at the future with some genuine perspective. Interest rates are so low and they are expected to remain low for an extended period of time.
In fact, many experts forecast the total collapse of the dollar making it worthless. Imagine that. All the money you have saved gone at no fault of yours. You might as well spend your money now that it is still worth something.
I can’t take it to the grave
This is the best reason not to save money. It is fair to save some money for your descendants if you are rich. But if you are barely surviving from a miser of a monthly pay check, why are you even thinking about saving money. Focus your attention on staying afloat.
There won’t be a tomorrow to save for if you cannot survive today.
The bottom line is that the reason why you don’t have enough savings in your bank account is that you are not making enough. Isn’t that simple enough for others to implicitly understand? And earning more money is not something anyone can choose. Remember to roll your eyes at whoever is asking you where your savings are.