We all of guilty of looking for a excuse and reason for why something isn't going our way. Making your money last and saving should be your top priority no matter where you are in life.
Yet this is not a fact that many Americans can claim as their own because a high percentage don't know how much money they spent last month let alone how much they could have saved.
Recognizing theses excuses isn't to make you feel bad over your spending habits rather it is to show you some of the mindsets that are prohibiting you from leveling up financially.
An excuse often feels like a legit reason.
It relieves us of the responsibility of starting today instead of tomorrow because our income is low, our bills are demanding, and we just don't feel ready.
Related Post: This is why you can't save money
Sometimes the words we speak and manifest become so routine and familiar that we don't identify them as a problem.
It's just another bill
This statement makes me cringe because after awhile it stops being true.
Your bills can multiply to where you are in a never ending pile of debt and you can't afford anything you want from the store, without risking being broke, until the next check.
When you begin to live above your means and squeeze every last penny out of your check you begin to sacrifice things that the version of yourself in a few years would really care about
Treating your credit card like its free money can ruin your credit temporarily and make it hard for you to get approved for cars, apartments, and other financial opportunities.
Of course not every place cares about what your credit score is. Dave Ramsey is known for promoting the concept of finding a new place or service that approves you based on your annual income.
Paying bills is part of being an adult
Yes, paying rent or a mortgage when you own a home is part of adulting.
These bills tend to mean you live on your own. You have claimed independence from your parents and now bills are part of the package.
But having an insane amount of expenses or utilities that are not absolutely necessary to live is not part of adulthood.
Why are you paying $400 a month provide cable service for 3 TV's when you live alone? There are alternative ways to live and still feel that you are comfortable.
Consider having a a fire stick or paying for a streaming service such as Netflix or Amazon Prime Video.
Bills are a part of life because everything, especially in America the land of marketing, will cost you something.
Whether it is time, effort, energy, or physical cash, you will pay to have the life that you want.
But you do not have to be swallowed by stress and worry you can instead work to live around your income and bargain hunt for sales, negotiate with your loan lenders, and see if you can work with your boss for a different salary.
Everyone has debt - debt is good
Some debt is strictly avoidable.
When I first introduced you guys to my college saving habits in 15 creative ways to save money while broke, I mentioned my desire to attend NYU, an expensive private college in NYC.
Everyone around me encouraged me to attend, supported my dreams, and forgot to mention how much it would cost.
Although I ended up at my current college because of my SAT score was below the criteria, attending a public city university is allowing me to graduate without owing massive loans.
I don't have enough money to save
You don't have enough money to save large chunks of your check at time. This is likely true.
But you can walk over to your wallet and take out the lone singles you were carrying around, dump out all the change that accumulated and place it in a jar next to your bed.
Saving has become something that needs to be impressive, if we can't say we have $1000 saved immediately, then we don't feel it's worth it.
If you are used to having zero dollars left when the pay period rolls around again, having a few extra dollars left over, no matter the amount is an accomplishment.
Everyone can save money
busy college students
adults with full time jobs
adults with part time jobs
people with fluctuating income
You can do it.
Hope is the ability to believe you can put the necessary steps into action to achieve something.
It may feel involuntary but it really is a psychological process.
Feeling hopeful that you can save means you have faith that your actions will have a good outcome.
Example of Hope
If you text your boss because you want to have the day off, you did your part and became one step closer to getting what you wanted. Then you can have hope that he will respect your decision.
Review your priorities
In no way should you go hungry and walk around with old ripped clothes because you want to save a few extra bucks.
The purpose of saving and what makes it so beneficial and smart, is that it does not have to deprive you of your basic needs.
It's easier to do something when we don't feel like we're giving everything we love up.
Instead of telling someone to stop watching tv in order to apply for a better job, you can say "If you usually watch TV at 6pm take 20 minutes and find an application or two that you qualify for."
Having an accountability buddy also works. Going through life changes is easier with a support system
It doesn't make sense to save
This one is tricky and I didn't realize it was a common theme until I saw a few Instagram post dedicated to this very topic.
To some it only makes sense to invest your money and allow it to multiply in Index funds, Stocks, and by spending money to make money in the form of a business adventure.
Why you should STILL save money
For someone who has little experience handling money, and isn't a full believer in having a budget yet or understanding why it's a guide to financial freedom... telling them to go pick a stock because it will make them lots of money is not helpful.
The stock market fluctuates, you could scare someone away from investing longterm if you tell them to do it without providing the proper education first.
You aren't being ripped off by opening a savings account with a low percent interest rate because it helps develop the habit of saving.
Once you feel comfortable with it and build confidence you should completely open an online high yield savings account.
Keep in mind every new money adventure begins with having knowledge and a basic understanding.
Financial literacy is too hard to learn — I don't understand money
It can be challenging I agree.
Investing is still something I have to learn every day because the stats are always changing and there are a lot of terms for each financial literacy concept.
Investing, brokerage, retirement, index funds, mutual funds, annual percentage rate, taxes, interest
But thanks to Google and other media outlets it doesn't have to be mind boggling and confusing.
Pick an app
For example you can choose an investing app like Robinhood and learn the ins and outs of it.
Robin Hood allows you to link you bank account, upload funds and then buy into stocks that are available. You can monitor the stock value in real time and even earn a free stock when you refer a friend.
By googling Robinhood and watching YouTube videos we can learn from others who are already using the app (or any other budget, invest, save, money tracking app).
Pick a book
If you are a fan of text especially in paper form you can buy a book.
A simple web browsing search of the best financial literacy books for 2021 (or whatever other year) will show you books that other readers have recommended.
There are some books that are considered classic that you may not want to read and that's okay.
I've heard of Rich Dad Poor Dad before and when I saw it in Barnes and Nobles I didn't feel the urge to buy it. Just because you learn from other less popular titles doesn't make your knowledge any less legit.
Google basic questions
Asking questions is not silly or weird— it proves intelligence.
How to save money as a teenager?
How to save money for ...
How to save money fast
How to save money when you're broke
What are 10 ways to save money (at home)
How can you figure out what you do or do not know without asking?
Ask the experts
Many of us do not file our own taxes.
We sit across from experts for 15-30 minutes sometimes an hour and watch them plug numbers into a screen. This is a great time to ask questions that we are curious about and get real time feedback from someone who is not a search engine.
You won't regret learning more useful habits and tactics for the future. Financial freedom regardless of your circumstances, begins with you and your mindset.
We all have the ability to control our destinies. Some people may have more power and privilege but it does not mean we can't find our way to a stress free, comfortable way of living.
Recognizing when the voices in our head or conversations begin to push away habits that could really change your lifestyle is when the real magic of making and saving money begins.
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Let me know in the comments what excuses you've stopped making that have changed the way you see money. What new habits have you tried recently?