7 Lame Excuses for Not Saving Money ...

1. I Can't Afford to save

One of the biggest excuses for not saving money is, ‘I can't afford to save.’ But if you reevaluate your budget and assess where your money goes each month, you might discover that there's plenty of room in your budget to feed your savings account. You might not be able to deposit a lot, but something is better than nothing. For example, instead of spending $20 on lunch each week, brown-bag your lunch and put the savings into your bank account.

2. I Have to Pay for My Kid’s Private School

It's wonderful that you want your child to have the best education that money can buy. But if you're paying for private school at the expense of saving money, you might want to rethink your position. At the end of the day, you have to decide the best ways to spend money. If you're truly against public education, maybe you can look into private schools that charge cheaper tuition or consider home-schooling.

3. I Have to save for College

Like private school, saving for your child's college expenses should not take center stage. Saving for college is okay if you can save for multiple things simultaneously. But if your budget only allows for one big savings effort, saving for retirement or building a cash cushion should be a priority. The truth is, there are several ways to pay for college, such as federal aid, private student loans, grants and scholarships. It's not the end of the world if your child graduates with student debt.

4. I’ll save when My Income Increases

Many people postpone saving until they get a salary increase or a better job. But sometimes, it can take longer than anticipated to enjoy a higher salary. Even if you only save $15 or $20 a week, putting something into your account can help you survive tough times.

5. I’d Rather Enjoy My Money

It's certainly more fun to spend than save. And while the occasional splurge is okay, spending all your money on a good time is not the responsible thing to do. When it's all said and done, you’ll have nothing to show for your hard work

6. I Can Survive on Unemployment Compensation

Some people don't save because they feel that they'll be able to survive on unemployment after a job loss. But often times, unemployment compensation is only a percentage of your regular pay. Also, don't count on your company offering a severance package. This may or may not happen. Therefore, you need to be prepared with an emergency fund.

7. There’s Plenty of Equity in My House

Some homeowners put off saving money because they have equity in their house. From their standpoint, they can borrow against this equity whenever they need extra cash. This is an option. However, home prices can decline and rob you of equity, and when you borrow from your equity, you have to pay back this money. You're better off with cash in your savings account.

Saving money isn’t optional – it should be a priority. It might take a while to get into a savings routine, but it’ll become second nature before you know it. What are other lame excuses for not saving money?