There Is No Valid Reason For Not Being Able To Save Money

After reading this "The Motley Fool" article about why Americans don't save for retirement, this writer has come to the conclusion that there is no valid reason for not being able to save money.

In listing the five top reasons why Americans are ignoring their retirement accounts, my eyes focused on the last reason and the solution to the problem:

Reason #5: I'm Already Struggling To Pay My Bills ---- "Lower your bills. Review your expenses, decide which ones you're going to cut, and bank the difference. Going this route will not only open the door to retirement savings, but help take some of the financial pressure off at present."

The above quote after Reason #5, is great advice on how to save money. As this writer has done, create an Excel yearly budget spreadsheet from an already made Excel template (located in your Excel software) showing income, expenditures, and monthly cash available (cash flow figures), where you can instantly see where you financially stand at the end of each month. Here are 7 more money saving tips.

As a result of doing the above, I am saving one-half of my Social Security income (been saving it for 12 years) by asking myself this one question when shopping: Is the item that I'm about to purchase, a "need" or a "want"? (see article), realizing that denying self is key to economic stability (see USA Today article).

Having a knowledge of money and frugality is a necessity in being a good steward of the material goods that God has allowed us to possess (see here, here, and here). Additionally, asking ourselves this question will provide us the answer as to "Who" we should trust for our daily provision (also note this article).

---Mike Riley, Gospel Snippets