5 common excuses people make to put off investing and how to overcome them

livemint.com:

investment journey can be a struggle. The instant gratification from spending naturally prevails over the delayed satisfaction from setting money aside for the future. When you’re young, there is an urge to justify procrastinating your investments citing the much touted yet fallacious YOLO lifestyle.

But scratch the surface and beneath the promising millennial mantra lies the harsh reality of life. The earlier you realise that there is no circumventing the need for financial security, the better it is. Being financially stable by following a regular and sustainable investment plan allows you to not only meet your financial goals but also comes with the promise of a comfortable retirement.

There is no reason to believe that you are fated to live off meagre savings forever. Provided you are willing to overcome your excuses for putting off investing. But what exactly is it that people fear? What exactly is it that makes people want to delay an important life decision? What really is their excuse for not wanting to save their hard-earned money for a better future? Here are some common excuses people cite for postponing their investments.

Time to overcome them. This is one of the most common excuses to avoid investing. People don’t invest enough time in drawing up a budget and end up with no money at the end of the month.

If you’re happily watching the month go by so that you can save whatever you are left with at the end, you’re doing it wrong. Saving money is like paying for a future version of yourself. Pay yourself before you pay for your spending.