Avoidable excuses for not saving

When it comes to financial planning, delay is very dangerous and should be avoided. Do not postpone your time to save; the right time to save is now. Even if you do not know how to save, I have written an article on how to save money

Though there are acceptable reasons and situations under which it can be impossible to save, but it is also noteworthy that most people are capable but do not save due to the excuses that they come up with. 

Make minor adjustments and sacrifices to secure your financial future. Below are some of the excuses you may be giving now for not saving and I will advise you to stop them.

You will save later

Why not start now? The right time to start is now because if you keep postponing, you may never start. If you are waiting for a promotion or a raise, what will happen if you lose your job? Avoid this lame excuse for not saving and start now so that you can take advantage of business opportunities that may surface. 

You are too young to save

You are not too young to start saving and the earlier you start, the better for you. It is even better to start at that point that you are considering yourself to be too young so that when you get to that assumed normal age to start saving, you would have saved a good sum. There are numerous stories of millionaires who started their businesses when they were still very young but there are young adults who still claim that they are too young to save.

You have your retirement savings

Please do not tell me that you are among those who think that their retirement funds will be enough. There is no doubt that your pension is a form of saving, but is it going to be enough when you retire? I doubt it. You will not even have access to your pension until when you retire so what will happen in times of emergency. When you take all things into consideration, you will realize that this excuse is not good enough.

You cannot save

Do not be discouraged by failure for you are not yet a failure until you stop trying. Do not be sabotaged by your efforts to save because you have not succeeded yet. I would like you to believe in yourself and shun that idea that it is not in your nature to save. When you fail try again, find out why failed, avoid the mistake and try again. If other people can save, then your own case is not an exception. I believe that you can even do better than them.

You need to earn more to start saving

Stop waiting for your earnings to increase before you start saving. The fact is that earning little does not mean that you cannot save; it may make it difficult for you not to. It is also a fact that if you keep waiting for a higher pay or a better job to start saving, you may even end up wanting a higher pay when you eventually do so.

Times are hard

If you are among those waiting for the economy to be in the best of shape before you start saving, then you might never start. It is not a good idea to cease all attempts to start saving because most people like you still save in that same economic situation.

If you do not take care of yourself, who will?

This point just reminded me of dettol advert; Nigerians know what I’m talking about. Are you among those that believe that tomorrow will take care of itself? There is actually no problem with that but you should also bear in mind that your today determines your tomorrow. Also avoid getting stuck with attitude of entitlement to things that you cannot afford.

It is too late for you to save

You can still try to save some money even if you are living on your pension. Some say that they are too young to save while others say that they are too old to save. If you are about to retire and realize that you have not saved enough, I will advise you to delay your retirement if possible and save some more money.

I believe that I have been able to inform and educate you on this issue concerning savings, so please kindly share this article with your social media connections especially facebook and twitter with any of the buttons below. Thanks.

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