Nobody wants to be called a loser. Much less a BIG loser. But that is exactly what excuses make us. They are roadblocks we ourselves put in front of us that prevent us from reaching goals that are otherwise attainable. Excuses for not achieving something is different from reasons for not achieving something in that excuses can be overcome. That is the distinction between the two.
So let’s look back and see how to overcome some very popular excuses that prevent us from achieving financial fitness:
Excuse: I have no time to keep track of my money!
DEBUNKED: This is the lamest excuse out of all of them. Sites like Mint, Wesabe, and Geezeo all can help you track your money and how you are spending it. They will categorize your purchases and even compare your “costs of living” with the general public in your respective cities. Personally, I use Mint.com because it also allows me to keep track of my investments so that I have everything in one place. Can’t get any more convenient than that.
Excuse: I cannot afford a professional financial planner nor can I afford classes to learn.
DEBUNKED: I do not claim to be all knowing but most of the stuff we write about here on this blog were gleaned from the web. We taught ourselves what we needed to know in order to change our lives and help change the lives of others around us. And the cool thing about it? The education is totally free. It is about leveraging the knowledge and experience of others to make yourself more financially competent. If you really want to learn, you can find what you want to know online. No fees. No payments. Just straight knowledge.
Excuse: There are way too many temptations around me, calling me to spend my money.
DEBUNKED: I have a neat trick that quickly neutralizes any impulse buys. I think about how much I had to work to be able to afford a particular item and weigh whether or not it is worth the time and effort I put in at work. Most of the time, it is not even close. If it gets past that first test, then I ask myself if the purchase will in anyway help me achieve my goals especially when it comes to starting my own microfinance institution. That usually is the end of the debate between the devil and angel on my shoulders.
Excuse: I do not have the energy to be so diligent about my finances.
DEBUNKED: One word: Automatic. Make everything automatic. Have your computer do all the heavy lifting. Get direct deposit. Make the computer pay your bills online automatically every month. Make the computer move money from your checking account to your savings account (or Roth IRA) automatically every month. Automatic. Automatic. Automatic. No energy needed at all.
Excuse: This is probably as good a paycheck as I will get. Especially with the job market the way it is right now.
DEBUNKED: There is no such thing as a plateau. We are only using a tiny portion of our brains. There will always be room for improvement and growth. You can always find ways to make more money and spend less of it. All it takes is motivation and resolve.
Excuse: I have good intentions to get all my financial houses in order but my routines and bad habits are just too much a part of who I am and what I do.
DEBUNKED: This is obviously a problem of behavior. Psychologists agree that the majority influence on a person’s behavior comes from a person’s environment. A good way to change behavior is to change the environment around you. If you want to stop buying expensive coffee so that you can participate in the Kiva Gift Guide, then do not put yourself in a coffee shop. If you keep eating out with friends, limit your interactions with those friends and your eating out bill should also go down. Before you know it, you will have an entirely new money-friendly routine.
Excuse: Budgeting and counting your money are some of the most boring things you can possibly do with your time.
DEBUNKED: It is hard to argue with this excuse. But it is necessary to get out of this mindset to reach financial goals. Boredom is a big factor when it comes to budgeting and keeping an eye out on your money health. The way I get over the boredom is to keep reminding myself what I am striving for. By having the goal always in the front of my mind, it allows me to keep going and going and going… Heck, there are even financial games that are actually pretty fun to play that can add some excitement and give you the motivation you need to stay on track.
Excuse: But it is so easy to just slack off! There are so many other things I could be doing.
DEBUNKED: OK, everyone knows that all work and no play makes for a very dull existence. And fun activities are just better when it comes to usage of time. And I support that. I have my hobbies. I go hang out with friends. I go outdoors. I do not spend every minute counting pennies. But I also know to do these things in moderation. Actually, I only do these fun activities when I know that I have taken care of all the things I HAVE to take care of. These activities are actually my rewards. It’s like eating Thai food after a good workout. With mini rewards to break up the monotony, financial goals become easier to handle and you will be less likely to just give up from sheer exhaustion.
So we have gone through the most common excuses and how to overcome them. Are there less common excuses out there that are your personal roadblocks? Please share in this blog and let’s see if someone’s two cents might become the answer you are looking for.
If you enjoyed this post, make sure you subscribe to our RSS feed!
Related Posts:
I need to shape up...
