Covid-19 Outbreak SA Online Resource | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
Home Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Vehicle Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Commercial Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote
Domestic Worker Insurance
Cover the person that looks after you and your family everyday
More Information
Get Quote

News Room

Seven Really Dumb Excuses For Not Saving

Compare Guru
2015-03-04
We are really good at coming up with excuses when we have done something wrong, no-one likes to admit they messed, up so our talent for “cover up” is well honed. While cover ups serve us well when trying to avoid the wrath of a co-worker whose tuna sarmie we illegally snaffled but when it comes to managing our finances, the only person we are fooling is ourselves.
We are really good at coming up with excuses when we have done something wrong, no-one likes to admit they messed, up so our talent for “cover up” is well honed. While cover ups serve us well when trying to avoid the wrath of a co-worker whose tuna sarmie we illegally snaffled but when it comes to managing our finances, the only person we are fooling is ourselves.
Saving is about mind set, not resources. It doesn’t matter whether you make a modest or monster salary- you should save a certain percentage and learn to live within that income because you have a responsibility to provide for yourself and your goals for the future.
So let’s unpack your favourite excuses so by the end of this article you will have nowhere to hide:
I can’t afford to save
The reason most people can’t save is because they are not willing to compromise on their lifestyle. Most people, if they really wanted to, could survive with a lot less if they did not subscribe to the image culture and their desire to buy things to impress. The thrill of shopping is short lived, the pain of too much debt or no savings will last a lifetime if you don’t get spending under control.
I’ll save when I earn more
All good in theory, but immediate needs will always take precedence over future obligations. The problem with this thinking is that most people do not adjust their spending to accommodate saving as they earn more, they just spend more-its human nature. You have to get it into your head that the time to save is now because for most people tomorrow does come but the savings got off the bus at the first stop.
It’s too late
It’s never too late to save money at any age. Don’t think about previous failed attempts, concentrate on the future.
I’m going to inherit
So here is a story, I recently met someone who was about to file for insolvency. He was expecting a large inheritance from his grandmother. In anticipation he bought an expensive car, a home with huge bond payments and raced up debt on his credit cards. He had a good income but he put himself in a position that he could no longer keep up with payments. When the will was read by the executor of the estate-his name was not even mentioned. Relying on an inheritance is a risk you cannot afford to take.
Click here to read more.
CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up