6 Money excuses you should stop making to have a secured financial future

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By: tiarajoseph11
on 22nd Jan,2014

You should save money for the rainy days and contribute to your retirement account in order to have a good financial future.
6 Money excuses you should stop making to have a secured financial future


Do you want to save money but console yourself with certain money excuses? If yes, then you are making a big mistake. You should save money for the rainy days and contribute to your retirement account in order to have a good financial future. Here are some excuses you might be making to not save and contribute to your retirement account.


  1. You are too young to start saving – Before you start changing this view, know that the longer you put money in your retirement account, the more interest you receive on that amount. Therefore, start saving early in order to enjoy more interest on the money you are putting in.
  2. You are waiting to inherit a lump sum amount – It always feels great to inherit a lump sum amount; however, it is foolish to consider that while planning your future savings. You do not know whether or not that inherited amount might be used to handle a financial crisis or to pay some tax debt. So, never count on that amount to plan your future savings; instead, consider it as a bonus if you receive it finally.
  3. You will use the equity in your house if required – You are definitely financially strong if you have a home and it appreciates in value. But it is not a good idea to consider using the equity in the property to plan your future actions. You may think that you can sell the property in the future if required. However, will it be a better idea if you do not have any other property to live? Moreover, you never know if the properties in your area start depreciating or may not appreciate as much as you think. So, think wisely and plan your savings accordingly.
  4. You do not want to sacrifice your present enjoyment – If you think that you need to sacrifice your enjoyment at this age in order to save for the future, then you are wrong. You can enjoy and save at the same time. What you have to do is make changes in your budget in order to accommodate your present enjoyments as well as saving money for your retirement days. Doing so, you can enjoy more as you won’t have to worry about your old age.
  5. You do not have to worry about your finance once you get married – You are making a big mistake if you think that you can stop worrying about your finances once you get married. Your financial life after your marriage depends on several factors like, whether or not both of you work, do you reveal everything about your finances to each other, your financial goals, etc. Most importantly you need to consider, do any of you earn enough so that the other spouse can be a homemaker and look after the children? So, after marriage (or it is even better if you do it before marriage), sit with your partner and discuss about both of your financial situation and goals, so that both of you can work towards having a better financial future.
  6. You plan to work even in your old age – While saving for your retirement, many of you might be of the view that you will continue working even after your retirement. This is indeed a good thought if you enjoy working. However, you never know whether or not your health will permit you to continue working as you are doing today, or you might not enjoy working then. Therefore, do not bank on that thought. Instead, start saving for your retirement now, and if you can continue working in your old age, you will earn an additional amount to enjoy a better life.


Above all, one of the most common excuses people make is that they cannot afford paying to the retirement account. They give the excuse that all the money is used to pay bills every month. If you have the same view, then consider keeping away $150-$200 right when you receive the paycheck. Doing so, you might have to replace one of your eating outs with homemade dinner; however, it will pay you later. So, make these small changes in your life and enjoy a better financial future waiting for you.



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