Categories
Loading
Welcome to Babble,
Settings
Sign Out

Get the Babble Newsletter!

Already have an account? .

12 Excuses to Stop Making So You Can Finally Get Out of Debt

If there is an excuse out there that you can tell yourself about not saving money, I can assure you that I’ve told it to myself. I had every excuse nailed down and was really in denial for quite awhile before I decided to get serious about getting myself out of debt. When I finally decided it was time to quit with the excuses, that’s when I was able to change my financial life and achieve some major success in the saving money department.

Many families continually struggle to make ends meets, because excuses are a part of everyday life. They may have just become part of the normal script you repeat to yourself and your family members. In order to incorporate better savings practices into your life, you need to understand why you are not saving in the first place.

If you’re telling yourself (or your loved ones) any of these 12 lines, then it just may be time for a wake-up call so you can finally get out of debt!

  • 12 Excuses You Have Got to Stop Telling Yourself (So You Can Finally Get Out of Debt) 1 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    Image source: Wikimedia Commons

  • I Want to Have Fun 2 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    Most people assume that if you're going to cut back on spending then that means your entire life will become extremely boring and terrible. But that's just not the case! There are so many things to do without spending any money at all! Just check out this massive list of 56 Things to do Without Spending Money for tons of ideas to get you started.

     

    Image source: Wikimedia Commons

  • I Want to Look Successful 3 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    This is a big one. We want to be successful. We want others to know we've done well for ourselves, and one way to do that is by the material objects we possess. Resist the urge to have material objects demonstrate your success. Know that by being conservative with your funds, you can build true success.

     

    Image source: Wikimedia Commons

  • I Mostly Just Owe on Those Old College Loans, So It’s Okay 4 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    Like mortgages, college loans have come to be expected, and because of that most people don't think education loans are serious and they don't seem to weigh as heavily as, say, credit card debt. Resist the urge to let years and years go by paying the minimum on your college loans just because they don't have the same stigma associated to them as credit cards do.

     

    Image source: Wikimedia Commons

  • There is Just No Money Left to Save at the End of the Month! 5 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    It's easy to blame a lack of money on your lack of savings, but it's up to you to find ways to cut spending to have that money to deposit into a savings account. Buy fewer material goods, pay bills on time to reduce fees, and deposit cash gifts straight into the bank.

     

    Image source: Wikimedia Commons

  • I Have Too Much Debt! What’s the Point In Trying to Get Rid of It? 6 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    While it is important to focus on eliminating debts as fast as possible, it is just as important to pay yourself first. With each paycheck, have at least $10 or $20 automatically deposited into a savings account before tackling your bills.

     

    Image source: sera_leaving

  • I Would Save But My Husband/Wife/Partner Spends Too Much! 7 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    If you blame the other half in your relationship for money woes, the biggest factor in your financial troubles may be a lack of communication. Schedule one night a week to sit down and review income and spending to ensure you are both on the same page. 

     

    Image source: Tetra Pak

  • But I Needed It 8 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    There is a big difference between ‘wants' and ‘needs.' Needs are the basics of life: food, shelter, water, and clothing. Anything else should be identified as a want so you can cut spending and stop impulse shopping. Shop only when you have a legitimate need, and make a list before you go. 

     

    Image source: ken ratcliff

  • Everything Costs Too Much 9 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    Only buy things you actually have the cash to afford. For big purchases, save up for each purchase rather than buy your ‘wants' on credit. 

     

    Image source: 401(K)2013

     

  • I am Just Bad at Math and Finances 10 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    In general people do not get an education in personal finance from schools. They have to make the effort to learn how to manage money on their own. It is important to research the basic fundamentals of personal finances including budgeting, use of credit, and setting goals for savings. 

     

    Image source: misskprimary

  • I Do Not Have Time to Budget 11 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    This is a common excuse people use as a reason for their lack of proper financial management. A budget can be as simple as you make it. Write down all sources of income for a month and subtract all of your expenses from that. Anything remaining should be divided into savings categories. If nothing remains, a rework of your financial plan will be necessary.

     

    Image source: CamEvans

  • But Other People Can Afford It. So I Should Be Able to Too! 12 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    If you're comparing yourself to your neighbors and feeling like you just don't measure up, then that's a real recipe for disaster. The reality is we have no idea what other people's financial situation is. While it looks like they're well-off with their new clothes and Kate Spade purse, they could be drowning in debt by putting things on credit every month. Don't compare yourself to others, and find security with your own financial situation. 

     

    Image source: KaCey97007

  • I Was Doing Great Until that Emergency Came Up 13 of 13
    12 Excuses You’ve Got to Stop Telling Yourself (So You Can Finally Get Out of Debt)

    There will always be an emergency or something unexpected that will come up. Plan for the unexpected by setting aside a percentage of your income each month for emergencies. By doing this, you won't completely blow your financial progress if (when) the unexpected occurs. By planning ahead, you'll be taking control of your life. 

     

    Image source: Wikimedia Commons

 

FacebookTwitterGoogle+TumblrPinterest
Tagged as: ,

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, profile photo and other personal information you make public on Facebook (e.g., school, work, current city, age) will appear with your comment. Learn More.

FacebookTwitterGoogle+TumblrPinterest