🌼You Have Trouble With Your Finances For These Only 2 Reasons

When you assume responsibility for these factors, you will stop looking for external excuses for not taking action.

When people tell me that they have financial problems and can’t save money, they usually have many excuses that they consider valid reasons:

“They have a lot of expenses,” “They had a personal emergency at home,” “They had to repair something,” “They don’t earn enough even to cover their bills,” “They had to take the cat to the vet,” etc.

And while some of them may be “logical” reasons not to save for most individuals, they are not, and it actually boils down to two main factors: A lack of awareness and a lack of care.

Read also: 3 reasons you are not having the life and career you want

Let me show you how most excuses can be categorized on these two factors and how understanding that can help you escape that mindset trap and finally fix your financial problems.

Why most excuses are lack of awareness or lack of care.

One of my most popular articles talks about how “people will never be rich if they keep doing these ten things.” Although I no longer consider it a good article (because I have improved my writing considerably in these years), this post hides a sad reality: People look for different reasons to understand their lack of awareness or carelessness.

Let’s see an example of how no matter how many excuses you have, they will always be one of these two options; let’s start with the article I wrote:

Reasons categorized — By the author
Going beyond what I think, if you search for any article or forum about why people can’t save money, it will give you hundreds of reasons that also can be categorized into these two reasons:

Reasons from a Google article categorized— By the author
But what’s the problem with saying precisely what happened to my salary instead of these two options? That if you keep searching for different reasons to justify yourself, you will never find the real solution.

Let’s put this example; you earn $3000 after taxes a month. You drive a brand-new car with a $400 loan, live in a house that costs you $1800, your groceries and utilities are $300, have $150 in different subscriptions, and the $350 that stays free is always to hang out with your friends and buy clothes or expensive makeup.

Generally, you could say that you can’t save because you have expensive bills to pay and simply don’t earn enough. This excuse is perfect because it will give the problem to an external factor you think you can’t control or fix and will stay doing the same every month without any self-analysis.

But what if you use awareness or care?

You will say, “I don’t know why my bills are too high,” this is a lack of awareness, and start checking all these expenses per month; you will realize that you are spending too much on subscriptions and going out with your friends and maybe adjust this budget to save at least $100.

You could also understand you can’t move because the house has a good location or disappear the car debt, but instead of having lack of care, you decide to find a mini side hustle that helps you with the bills so you can keep affording this lifestyle and save.

The problem with having multiple excuses is that your brain believes you can’t solve them, but knowing that you are one analysis of solving your financial lack of control can help you have more clarity and take action.

How to fix the wrong mindset.

To fix the wrong mindset, the first thing to do is understand that you are the one that can solve all your financial problems and that they can be fixed.

One of the biggest mistakes people make is believing they can’t do anything because that prevents them from taking real action to improve. According to Psychology Today, excuse-making is a form of defense mechanism to protect yourself from the anxiety of taking action:

“Failure is one of the most common reasons for making an excuse. As they point out, the function of excuses is to “distance the self from responsibility and reduce feelings of culpability, thereby protecting the excuse-maker self and/or public image.” By making up an excuse, in other words, we cover our tracks and don’t have to admit to a personal weakness or failing.”

And second, classify your money problems into one of the two categories so you can know how to attack them.

For example, in 2021, one of my biggest problems was that I wanted to do many things but had a modest salary.

I wanted to continue shopping for those things or traveling, but I wanted to avoid falling into a lack of care and do it anyways because it was not responsible, and I had saving goals too.

Therefore, I planned to increase my salary to afford those things.

Many people may analyze that the better solution for them is to stop spending on trash things or pay off their debt, while others to create an automation system so they can forget about paying things and avoid late fees.

The idea is to have the power and knowledge to change your financial lifestyle because there are only two reasons you have the problem, and both are for yourself.

Read also: How to make the most out of your life and make it meaningful

Final thoughts

Many people have hundreds of excuses for having financial problems. However, all of them can be summarized as a lack of awareness and a lack of care.

The problem with all the other excuses is that they are a form of releasing yourself from the responsibility of taking action.

“I have a lot of emergencies,” “My bills are too high,” and “I don’t know how to invest properly” sounds like a valid way to not do anything for them.

I used to think that my money problems were because I didn’t earn enough. But when I began to think about why I wasn’t earning what I wanted and how I could fix that problem, I began to have solutions instead of consolations.

None of the excuses you can imagine are reasonable if you really want to fix them.

For that reason, the proper way to improve your financial situation is first to understand that they are lack of awareness and a lack of care and then see how you can fix these two red flags.

The reason why 1% of the population have the 99% of wealth are for the choices they made. When you accept responsibility for these factors, you will stop looking for external excuses.

Contributed by Desiree Peralta

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