Stop Making Financial Excuses

Changing bad financial habits usually requires a lot of hard work and determination. At times, it seems easier to put off this daunting task and make excuses. These actions could of course delay your financial progress on the road to financial freedom. Below are some common financial excuses and how to overcome them.

"I deserve totreat myself."

Working towards building your reserve account is hard work. Rewarding yourself occasionally is a good way to recognize your efforts and an incentive to keep striving for your goals. However, treating yourself everyday or more than your budget can handle may lead to overspending. To keep your reward system in perspective, try setting a schedule. For example, every time you discover one of your debts have been settled, treat yourself to lunch at a nice restaurant or the new best-seller. The items do not have to be extravagant. You may enjoy and appreciate your rewards more when you realized that you have worked for them.

"I don’t have timeto save money."

Establishing a realistic spending plan and eliminating unnecessary items from a budget can be rather time-consuming. You may have to set aside a few hours each month for tasks such as tracking your expenses, clipping coupons, and sorting through receipts. Dedicating sufficient time to a particular goal usually pays off in the long run. You can use online resources to help you save money. Sites such as Kiplinger’s online budget worksheet (www.kiplinger.com/tools/budget/) can help you create a workable spending plan. You can also search for coupons online at http://www.coupons.com/.

"It is hard to save in a bad economy. "

According to a recent survey conducted by the Opinion Research Poll, 77% of Americans feel that the media is making the economy worse with negative coverage. Frequent reports about the state of the economy may make some people have a pessimistic attitude, which can inhibit achieving goals. Although the current economy is not in the best of shape, it is important to keep a positive outlook and hope that circumstances will improve in the future. Many consumers also exercise frugality in the midst of a recession. It is a good idea to get together with friends and family to find ways to cut costs.

"I will start saving money tomorrow."

For tasks that require hard work, it is easy to procrastinate and say that you will begin tomorrow or at a more convenient time. The first step to achieving your goals is to begin immediately. It may also help you to make long-term and short-term goals. The chart below may help you brainstorm future goals that you would like to accomplish. Many times seeing your goals in writing can help you envision your success. Eliminating budget busters such as expensive lattes and vending machine snacks are also habits that you can start to break today instead of waiting until tomorrow.