EXCUSES TO AVOID MAKING INVESTMENTS ARE COMMON

“He that is good for making excuses is seldom good for anything else.” - Benjamin Franklin

The present crisis has made many realize the importance of savings. However, many of us find ourselves short of adequate emergency savings. Many of us may have gone through pay cuts and even job losses. However, there are also many others who are now spending much less and have in fact more savings on hand. Now is the time to divert all your resources to your financial well-being. Still, there would be those having reasons avoid investing, in spite of having the potential. This article talks about the excuses these individuals put forward to avoid investing. In the past, we have found these excuses to be less convincing and/or something which can be overcome with strong intent.

I DON'T HAVE ENOUGH MONEY

This is the most common reason quoted by people. Let us dissect the truth behind it. You can start with any amount When we say we don't have enough money do we have an amount in mind? Most people do not think of what amount they can invest and hope that they will start saving once they have enough. However, this is futile exercise and quite often it only delays your savings till you regret it. To be honest, there is no minimum amount for saving and you can even start by saving Rs.500 per month if the intent is really there.

You can always prioritise spending

Those who find it difficult to save would be better off having a closer look at where the money is being spent. It can be quite surprising how much you could save if you would only be paying attention. Petty expenses on dining out, movies, ordering food, impulsive shopping online, etc can go a long way when diverted to investments. Only the right intent is needed.

you may even have a hundred excuses, however, there is only one reason to save – financial well-being. If you have the foresight and the common sense but lack bank balance to retire, savings is the way forward, without excuse. You would do well to remember a famous quote from Florence Nightingale -

 “I attribute my success to this – I never gave or took an excuse.”

Happy saving and investing.