With the current writer’s strike, there must be a few others out there hungry for a new Top 10 list. So, from the home office in Portsmouth, New Hampshire, here are the:
Top 10 Excuses For Not Saving
(followed by the reasons these excuses are lame)
- I’ll save more later (when I make much more money).
- But I really do need this.
- Life is too short.
- What’s another $X?
- But I don’t want to be cheap!
- My friends don’t save.
- Mom and Dad help with all that.
- I wouldn’t have any idea what to do with any money I saved.
- I have so much debt!
- My husband/wife/partner/accountant/financial planner/mailman/crazy roommate/barista/dog is in charge of my household finances.
And now the matching top 10 reason those excuses are lame:
- Did you remember saying that two promotions ago?
- When was the last time you used it? Okay, how about where you put it? Do you even own it anymore? Do you remember what it was?
- Then your retirement may be too long.
- Depends on how long it takes to pay it back. Could be many times $X.
- Me neither. Instead, be fiscally responsible.
- Do you really need me to respond to this? Didn’t you have a parent say to you 1,000 times growing up “If all your friends jumped off the bridge, would you?”
- Good for you. Count your blessings. When you’re done, hit ‘em up for something else, like a financial education.
- That’s what we call a good problem. When it comes to investing, remember: how you invest matters far less than how much you save.
- Then you already know that you need to pay it off. The only way to do so? Spending less than you make. Doesn’t that kind of sound like saving?
- You can outsource love/tax prep/technical expertise/postal delivery/loud music/a mean espresso/love. But you can never delegate financial responsibility.
Did I cover them? What other excuses do you hear (good or bad) as reasons why people fail to live Beyond Paycheck to Paycheck? What others have you used?