bad financial excuses

Procrastination is nothing but a crime. I already wrote so many times before that it’s just like a disease. It leads you nowhere. I’m not asking you to be hasty in your vital decisions. But delaying stuffs essentially harms the very growth of your life’s propositions.

Nevertheless, excuses are great! Sometimes, these can even come to your rescue if locked up in an ill-favored situation. Even so, putting forth a dozen of excuses to delay your tax filing isn’t a wise idea. If procrastination is giving birth to excuses, then it’s harmful. See if your financial blooming is lagging just because of a pile of excuses. Here are 5 of the worst.

“I don’t make enough to save”

Saving is a mentality. It’s an legacy. If you can’t inherit or imbibe this quality, no matter how much you earn, your piggybank would always remain empty. Start from today by creating an emergency fund. It doesn’t matter how much you keep, but you should at least give it a start. An easy $25 a week is undoubtedly a modest start. Increase it as your monthly income grows and whenever you are booned with performance appraisals and yearly bonus.

“I’m expecting a big legacy”

If you think this way, I’m keeping my fingers crossed. Sitting idle and hoping for something to happen on it’s own is simply a fool’s deed. Banking on your beneficiary status to solve your financial problems is altogether a bad idea. What if the person changes his/her mind at the last moment and remove your name as the beneficiary? What if the estate you’re going to inherit is already under lien? What if the property weighs too little to meet your requirements?

“My savings would never make a difference”

I can understand. Nowadays, with the stationary income and rising costs, saving often seems a luxury. Again, often you don’t want to dry away today’s happiness for tomorrow’s burdens. But should you gamble your retirement for today’s exuberance? Think again. Even if your income is low, giving up even before you begin is obviously not acceptable. The saying is: Momentum builds once you start. The bigger becomes the ice ball as it rolls down.

“I’m too deep in debt”

We are all in debt. May be your debt loads are a bit heavier, and mine a bit thinner. But simply giving up would take you nowhere. First, stop acquiring more debts. Find a way to pay your debts off. A debt snowball method could be of your help. Set a goal in mind and specific timeline to be debt free. Once you are debt free, set another feasible goal for saving for the future.

“I’ll start later”

I guess you’re grown up and very well aware of the power of compounding interest. You very well know that when it comes to saving, the sooner is the better. So why are you putting it off in spite of knowing all the maths? What is pulling you behind? Don’t you want your money grow? Embrace the power of now and start saving today.

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