The Financial Excuse Mentality, Do you have it?

 “Ninety-nine percent of the failures come from people who have the habit of making excuses.” ―George Washington Carver

Today during my normal hour long lunchtime phone call with Mr Fire, we picked up on something rather strange. One of the first things I loved about Mr Fire was his self awareness which I find is rather useful to me when I’m having a bad time with my mental health. He noticed that we had spent the majority of the phone call making excuses: Why we couldn’t make more money matched betting, How hard it is financially…. We basically had an excuse for everything! I have always thought we were rather positive people but if someone would have listened in to our call they would have thought the compete opposite.

So what is the excuse mentality? Firstly it really surprised me to learn its a real thing. I just thought making excuses was a part of life. The term excuse mentality is most often used in the workplace when people use it to justify under performing their duties.I think that whether people are on the journey to Financing independence or not, finances offer a lot of room for inventing excuses to avoid financial responsibility and its scary to think that myself and Mr Fire have succumbed to it without even knowing it existed!  I’ve come up with the term “The Financial Excuse Mentality”


What is The Financial Excuse Mentality?

It is when you fail to take financial responsibly by making excuses for the management of your personal finances. We currently have an excuse for the majority of our financial distress:

“We are only borrowing money till we get back on track”

“We cant get back on track due to needing so many new things for the new house”

“We’ve just bought a house so we are bond to overspend”

“Our food bill is so high as we are still stocking up on food incase we run out”

We have an excuse for everything! Maybe if we just owned up to what we are doing then we could actually get to work on fixing it!

Excuses stop us taking responsibility of our actions and can make us feel like victims of our own circumstance! Some excuses are justifiable and genuine but do the excuse themselves es offer the solution? do they change the situation? Excuses dont solve the problem they simply put a negative tint on it and can give you justification for not addressing the real issue.

How can you deal with The Financial Excuse Mentality?

  • Understand what the problem is and identify how you got there. This isn’t the place to launch all those excuses, its more about statement of facts. For me my Matched Betting goes like this:

~ I cant make that much match betting as I don’t have a lot of money to start with and the odds move to fast. I’ve only made £5 today which isn’t even worth it ~ see how The Financial Excuse Mentality has not only justified why I haven’t made more but has also belittled the £5 I have made. My excuse has cancelled out the positive act that I put time and effort into.

My statement of fact would be more like this:

~I have made £5 so far but I aimed to make £30. I haven’t spent that long researching Matched Betting so I could be missing out on offers. I have made £5 that I wouldn’t have made if I hadn’t have tried. Giving Matched Betting a try is important to me so I will concentrate on spending more time looking for offers and learning more about it ~

  • Use the statement of facts to create a plan of action

I said I need to spend more time  learning about Matched Betting and looking for offers. That’s my action plan.

  • Be consistent.

If I do my action plan once and then expect to make millions then I have set myself up to fail. This one takes a lot of self discipline as consistency is what makes a champion. If I aim to look at Matched Betting offers three times a week and research once a week and then stick to it, I am working towards my goal of making £30 a day.


So Mr Fire and I have this to work on for now and it will hopefully help us turn around our food budget. What Financial excuses do you make?



7 thoughts on “The Financial Excuse Mentality, Do you have it?

  1. My excuse is normally…I’m not ready yet…it covers almost every situation!
    I’m enjoying your blog hun, nice to read about someone else who is working towards FIRE without money already behind them in terms of large wages/savings.


    1. Hi SmlSave,

      Thanks for your comment and support. Ha ha I use that one too! Its perfect for everything 🙂 Yep not a penny behind me unfortunately and I’m actually in the red now…. Makes the journey more important though, right? 🙂


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