6 excuses why people don’t save money
Bankrate.com ran a great article about why consumers don’t save their money. It seems everyone’s got a reason, er, excuse … From their article:
- I don’t make enough money – Many people just spend their money until it’s gone. Tracking what you spend may help you control your spending, and therefore help you to save.
- I’ll get around to it later – People are always putting off saving. However, saving little by little can add up fast.
- I deserve a little luxury in my life – We’re in a society that promotes instant gratification. Saving is important too, and it’s okay to save for the treats you want too.
- Someone else will take care of it – Many count on things like inheritances to start their savings. It’s wiser to be in control of your financial future early on.
- I’m saving through my 401(k) – Retirement money is important, but you also need emergency funds for today’s problems.
- This item or service will pay for itself – Rationalizing purchases is easy, but it may be wiser to save and create a financial future.
