7 excuses people use to not save money

It’s a fact that it’s easy to spend rather than to save money. With new gadgets on the market, how can you not give in? But with the skyrocketing prices of gas and basic commodities, saving money is something you just have to do. It’s a task you need to incorporate into your monthly routine if you want a comfortable future.

To those who are still in denial and delaying the inevitable, here are excuses that people make to avoid saving. Which one is yours? Make it a goal this year to never utter these excuses and that’s a good start to your financial journey.

Excuse #1: I worked for it, I deserve to spend it.

No one is stopping you from spending your own money, but don’t forget to also save so you will have more to spend later on when you are not earning as much. Think of it as delayed spending. You’re still going to spend it—but not today and certainly not on things you don’t need.

Excuse #2: I don’t have enough to save.

If you know how to budget, you will have enough money both for your basic needs and for savings. The trick is to take out the amount you need to save and put it away. What remains is what you can spend. Believe it or not, you’ll be able to save money regardless of how much you earn. 

This same excuse is what people use to not get the protection of a life insurance. However, there are plans that are very affordable and quick to purchase, like FWD Set for Health Digital Critical Illness Insurance, which covers 42 major and 9 minor critical illnesses, available on FWD’s online shop.

Excuse #3: I’m too young, I’ve just started working.

No one is too young to save money. Even kids have their piggy banks. Just because you’re young does not mean the future isn’t your concern. Besides, when you start young, you’re actually making it easier for you later on in life. Save money now so you can enjoy your tomorrow.

Excuse #4: I’m too old to save, it’s too late for me.

No one is too old to save money either. As long as you are still earning or have a steady income, you can save. The important thing is to start.

Excuse #5: I’m bad with money.

Granted that you’re one of those people who are bad at handling money, well then, get some help. Ask your mom or a friend to give you tips or pointers. Better yet, consult an FWD financial advisor (click here) to know how best to achieve your financial goals.

Excuse #6: Why do I need to save? I’ll have more money in the future anyway.

Nothing is ever sure in this world—COVID taught us that. You might lose your job or income tomorrow. Do not depend on something that you do not have yet. Save now so you’ll have a fall back for the future. 

Excuse #7: I’ll do it tomorrow.

This is probably the one statement that we’ve said out loud or to ourselves many times. Today is better than tomorrow when it comes to saving money and securing your financial future. Start right this minute. Don’t wait to do something tomorrow when you can do it today especially prioritizing the ones that will help you celebrate living. To help you do this, check out FWD Life Insurances The One for Life Insurance Cover. FWD The One is composed of life insurance as the base plan which you can personalize and build according to your needs and budget. Your life, your plan! With FWD The One, you can add to your plan a critical illness coverage or accidental death benefit, or both! This insurance plan is the one that gives you control, freedom, and protection. Say yes to the one that protects you!