Enough With Your Budget Excuses

Buy what you need and will use, rather than what happens to be available at a discount.

"It's a good investment"

Investments are meant to increase in value over time. Depreciating assets should never be considered an investment.

Often people justify buying something by saying it's a "good investment" when it really is nothing more than an additional purchase.

Jewelry, gadgets, timeshares, items for a hobby, special or limited-edition merchandise are some common things that people try to justify buying with the "investment" tag.

"You have to play to win!"

This is a classic justification to play games of chance. What you won't hear is that you also have to play to lose and it's much more likely that you're going to lose because the odds are stacked against you. If you want to gamble, it should be part of your entertainment budget, not an excuse to ruin your budget.

"It's a tax deduction!"

Getting a tax deduction is a bonus, but it is not a reason to purchase something. Taking out a home equity loan will get you a tax deduction, but it will also put you further in debt at the same time.

Tax deductions are something that can be positive and one aspect to consider when making a decision on how to handle your finances, but using it as the main justification to do something is a good way to wreak havoc upon your budget.

"I'm expecting a big inheritance from my parents."

(Also: "I'm going to get a big bonus this quarter." "My tax refund is due soon.")

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