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Top 5 Money Excuses You Need To Stop Making This Year

Top 5 Money Excuses You Need To Stop Making This Year

Every year, people find themselves in a situation in which they need money for an emergency, school, or another important aspect of their lives. Finding the money to cover these costs can be difficult if you do not have enough money to save to begin with.

There are people who even rely on winning the lottery to obtain a structured settlement cash out to save money, but we all know that this is not an ideal plan. Some people feel that investments are too complicated, so they steer away from such actions. Additionally, many people suffer from a general feeling of not being able to make more money.

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However, the reality of the situation is that these are merely excuses. You can start saving money immediately if you just take action. Here are some common money excuses you can avoid in order to start saving more wealth.

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Money Excuses

    1. Saving money is not practical.

    Each individual has the ability to save money, even though everyone has different financial circumstances. Just a little bit of money saved over time can add up quickly. Before you know it, you’ll have several thousand dollars saved to put toward something important. One way to approach saving is to view your income as a structured settlement cash out. This means that you should allot a certain amount of money to be paid out over time. In this case, you will be paying out money to a savings account.

    2. I’m not good at saving.

    This is one of the oldest excuses in the book, yet people continue to say it when it comes to putting money aside for the future. Anyone can save money; it just takes a commitment to do so. If you have children, then you need to set a good example for them as well, and show them that you have the power to save. You never know when an emergency might arise, or when you will need money for that once-in-a-lifetime opportunity.

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    3. I make poor purchase choices.

    Impulsive shopping choices often lead to an inability to save more money, as well as debt. Credit cards are horrible decisions for people who cannot resist the temptation to buy that new pair of shoes as soon as they come out. Set aside money that you designate for shopping, and only use that amount when you go to the store. This takes a lot of willpower, but you are perfectly capable of setting a budget for yourself.

    4. It’s my recreational money.

    Money that you win from a personal injury lawsuit, the lottery or some other form of structured settlement cash-out situation should still be money that you save. Unfortunately, many people take “extra” money and blow it on recreational activities. This is not to say that a hardworking person does not deserve to take a vacation or to go out for a beer from time to time. However, you still need to set money aside for your future savings.

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    5. I disagree with my spouse about saving.

    This excuse is common among people who are married. They often disagree about the best ways to invest money, or the best ways to save it. You must sit down with your spouse and create a ledger of expenses. This will help you to determine how much money you can save each month. It might be a good idea to combine your income and then deduct living expenses from it accordingly. This will help you to gain an accurate picture of how much money you can afford to put away. Communication about money is one key to being successful as a couple.

    Featured photo credit: stop this year via farm4.staticflickr.com

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    Last Updated on June 25, 2019

    5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

    5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

    Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

    1. The 48 Laws of Power

    48-laws-of-power

      “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

      On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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      An example of a law of power is: Always say less than necessary.

      • When trying to impress, the more you say the more common you look and less in control.
      • Be vague.
      • Powerful people impress and intimidate by saying less.

      2. Influence: The Psychology of Persuasion

      influence-the-psychology-of-persuasion

        “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

        This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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        Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

        3. Blue Ocean Strategy

        blue-ocean-strategy

          “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

          This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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          4. The Fountainhead

          the-fountainhead

            “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

            The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

            5. The Compound Effect

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            the-compound-effect

              “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

              This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

              So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

              Featured photo credit: Bill Gates Foundation via businessinsider.com

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