Expensive excuses

THERE are many well-known excuses in Malaysia: no time, traffic jam, too late, busy, etc. We’ve all heard them before. As a matter of fact, we have misused them ever so frequently that we tend to put important matters in the backseat of our lives.

That includes our money matters.

Our career, family, car, social life and even pets take precedence over our financial plans. All these can prove to be costly. What are your excuses?

Our twenties is the best time to start. But at this stage, planning is never important because other exciting things become priority a brand new car, holidays, partying, new tech gadgets. And the common excuse in our twenties is normally “not much savings left” to plan.

In our thirties and forties, there is still ample time to plan but career, family, business travelling, and children often take centre stage. There’s “no time” left to think about it, and we believe work will take care of it for now.

In our fifties, there is actually still some time left to plan. A common excuse, though, is that “it’s too late”. Although it would have been better to plan earlier, some planning is still better than none. After all, we now live longer lives, and there are still 20 to 30 years to plan for after retirement.

Excuses giving can rob you of a well- planned financial life. Instead, decide that you:

Won’t let your busy schedule divert your attention away from your financial plan. Spend at least once or twice a year to review them.

Won’t let your free time idle away your money either. If you are “too free”, you tend to spend more freely too. Ensure that you have set up your plans before you’re too easy spending that ringgit away.

Make your financial health equally as important as your physical health, family life and career progression.

If you really don’t have the time to spare, hire a financial buddy who can walk alongside your journey just as we hire fitness trainers or business mentors to coach us professionally.

When we give time to money, money will eventually give us back our time. It’s time we stop giving excuses to money.

The writer can be contacted at info@success concepts .biz