24 Reasons (Excuses) You Haven’t Saved Money Yet

People give a lot of excuses for not saving money. Some are humorous, some may make a little bit of sense, and some are just plain outrageous.

Here are twenty four that struck me as particularly common or funny that I’d like to share with you:

1. “I don’t have time to manage my finances.”
2. “I don’t make enough money to save.”
3. “I make too much money to worry about saving.”
4. “I can’t save regularly – I have to wait for big things like bonuses or tax refunds.”
5. “I don’t have a savings account.”
6. “I don’t want to have another account.”
7. “I don’t like getting or reading bank statements.”
8. “I don’t need any money saved aside.”
9. “I have too many expenses now to save for later.”
10. “I’m too young to be worrying about saving.”
11. “I’m too old to be worrying about saving.”
12. “I’m saving for retirement already – why do I need more?”
13. “I’m paying off debt – I can’t save right now.”
14. “Why save up? I’ll just spend it all anyway.”
15. “I want to live in the present rather than worrying about the future.”
16. “The interest rates are horrible – what’s the point?”
17. “I’m afraid I’ll lose it all in the stock market.”
18. “I have a credit card for all that extra stuff.”
19. “Saving is boring and slow.”
20. “My wife is the saver – I’m just the spender.”
21. “I’m afraid someone will steal my money from my bank.”
22. “I’m scared of my bank going under.”
23. “I’m afraid of getting sued and someone taking all my money.”
24. “My friends don’t think it’s cool.”

Are you guilty of some of these? What are your own excuses for not saving?

Photo by sunshinecity