Global Economy Shows Its True Colors

5 Excuses That Keep You Broke

Warning: The following article may make you angry. You may be forced to look at your financial life in an unpleasant and uncomfortable manner. I may even offend your parenting skills and/or your understanding of religion. However, if read with an open mind, not for me, but for yourself, you will have a better understanding of your situation and will be on your way to financial stability.

One day, I was sitting and having lunch with a few coworkers. Over the course of our conversation (and meal), one coworker went on to tell us about her teenage son and his extracurricular activities with the school band. This was the most common topic from her, but, as proud as she was, the topic always ended up at the financial aspect of having a kid be successful in the school band. In this particular conversation, however, she mentions with stress and a heavy heart that she had not paid the auto insurance in two months because she had to pay for some band-related items. This conversation, along with much of my research into the psychology of why people end up in debt, led me to write this article. I was inspired to take a much more 'in-your-face' approach by Larry Winget after reading his book You're Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead. He said everything I thought, but was too afraid to say because I didn't want to hurt feelings. But, he is right and sometimes you just have to feel the pain to make it better.

Every person who carries debt, has no savings, and/or never seems to be getting anywhere financially has an excuse for why they aren’t getting anywhere. The following are just some of those excuses and my brief explanation as to why they don’t let you off the hook for your irresponsibility. In keeping with the previous story, the first excuse will be…

1. My kids need _____!
   
   Whether your kids are in band, on the school football team, or part of the drama team, the time may come that you simply do not have the money to pay for certain items. If you are passing up paying your auto insurance to pay for a band shirt or taking out a loan to send your kiddo on a trip of a lifetime, that really isn’t a good investment no matter how valuable the experience may be. I was a band kid myself and I wanted to be drum major. I was practically a shoe-in, but when it came down to it, my mom just didn’t have the money to pay for band camp and the other requirements, so I didn’t get to do it. I tried to argue that it would look great for college and that it would give me leadership skills, which was all true. However, as valuable an experience as it could have been, that didn’t change the fact that the money just wasn’t there. Looking back, I’m better off because of my mother’s strict family budgeting. I learned much more about self-discipline and fiscal responsibility than I ever would have from an ill-funded trip to band camp. If you teach your kids how money really works while they are still under your roof and protection, they will be much more prepared to handle their own money in a few years when they are on their own.
   
   
2. I grew up poor, so I don’t have a fund to start with.
   
   I admit that I, in my younger, more naive years, used this one religiously. Every one I knew just seemed to know more people, have more money to start out with, and know everything they needed to know to find themselves living a posh life of their own. And, it is true that some of us just get a better nudge into the open world than others based on our background (though, more often, all those people are just products of the same debt problems you are probably finding yourself in now). This just means that those lucky folks got a head start. That doesn’t mean that they will win the race. After all, it’s still a long run to the finish line. You may have to work a little harder at first, but, in my experience, when you keep at it, you will find yourself meeting and exceeding some of those people. Spending all of your time focusing on how Paris Hilton has what she has keeps you from working towards yours.
   
   
3. I am a woman/African American/Latino/Muslim/homosexual/Other and have no chance of having the same opportunities as a white heterosexual male.
   
   This is NOT true. Sure there is prejudice against certain people based on certain things and, no, it’s not fair. However, there are many obstacles to being financially successful and racism, sexism, and other forms of prejudice are just some of them. You have to work and make the effort to prove them wrong! Especially now that there has been an African American elected to the white house, it seems only fair to say that you don’t HAVE to be what certain small-minded individuals think you should be. You have to work to make an honest living no matter who you are. When you hit these obstacles, either jump over them or go around them, but don’t let them stop you.
   
   
4. It’s the creditors fault!
   
   No, it’s not. When you pay your bills on time and in full, none of these people will charge you excessive fees. My cell phone bill is always the same aside from a 2 or 3 cent difference every month. My credit card pays ME, not the other way around. I NEVER have late charges and I always get any deposits back for new utilities I open after a few months of paying on time and in full. The banks and other companies don’t charge you fees to “get you,” they charge them to pay for the inconvenience you’ve caused them. And why shouldn’t they?! And if you think the credit card companies charge the really high fees just to get you, then you don’t see the whole picture. Very few people actually pay their cards in full. The best way these companies can stay in business is to make money through finance charges. But, even then, if you don’t pay on time, they have to charge considerably MORE to make up for it. This is to a) make up for lost revenue and b) encourage you to keep your end of the bargain. Ultimately, YOU are the one that backed out of your agreements with your creditors. And it’s up to YOU to make amends.
   
   
5. “It’s God’s Will” or “God Will Provide”
   
   I live in Texas and, by proxy, the Bible Belt, so I hear this one a lot. If I were a bit more religious, I’d call it blasphemy. But, I’m not, so I’ll just call it giving up. Either way, you are using God to justify giving up on your financial health and to back out of your financial agreements. Is that fair to Him?! In my opinion, it is a bit offensive to me when I hear this one. Oh, and this one leans toward Christians, but its been my observation that the followers of other monotheistic religions say something similar. But, more than anything, I notice that there probably wasn't much focus on God when you were spending the money frivolously, so throwing your hands up and expecting God to take care of it doesn't just bother me, but I'm quite certain bothers God as well.
   

There are so many more excuses that people use that this is the tip of the tip of the iceberg (and, no, that’s not a misprint). What’s your excuse? Think of all the reasons that you can’t get ahead and why you are just not meant to have the money to afford the things you need and want. Then take a good, hard look at them. You might notice that they sound really childish and, frankly, stupid when you read them back to yourself. The sooner you admit it to yourself, the sooner you can grow from it and take responsibility for your financial life.

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