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Saving money is trendy these days, but there's a lot of misinformation being spread around that is discouraging people from saving their money. So what are those myths people are spreading that are holding everyone from keeping that money in the bank? Well here are the top five reasons people don’t save and the debunking of them!

Saving money always takes a long time. Okay, so saving for a new house or an expensive piece of electronic equipment like a laptop can take months or years. However, there are probably numerous things you don't buy on a regular basis because they seem too "frivolous." Such as that Darth Vader phone you have on your nightstand. Okay, so that’s probably just me. How long would it take you to save up for a massage, a meal in a nicer restaurant, or a pair of shoes that cost double your usual? Saving money can take weeks or mere days, depending on the price tag and the time you're willing to invest.

Saving money only makes sense if you have something specific to buy with the savings. Can you predict when a friend will ask you to accompany them to a football or basketball game, your new romantic interest will ask you to sign up for skydiving lessons together, or your favorite band will play a pricey benefit concert? How about predicting when your car will break down, your aging parent will need a hospital visit, or your water pipes will burst? Saving money lets you take advantage of once-in-a-lifetime opportunities and take sudden hurdles in stride.

Saving money means you can only spend on the basics. Do you remember the food pyramid in health class, with the boring nutritious food groups at the base and the yummy no-no foods at the apex? News flash: there's no universal spending pyramid. Most people's spending goes towards basics like food, rent, and transportation, but that's an average, not a rule. If you want to rent a cheap room in a run-down neighborhood so you can afford designer clothing, go for it. Saving money means honoring your own priorities.

Saving money means learning about IRAs, 401Ks, CDs, and other boring abbreviations that make your head spin. Do you need to learn how to use an elliptical training machine before you can go for a jog around the block? Do you need to get a degree in graphic design before printing out garage sale flyers? Absolutely not! Likewise, you don't need to have an elaborate financial plan or spend hours researching complicated investing strategies. Saving money can be as simple as emptying your change purse into a Mason jar every evening.

Saving money means lowering your standard of living. If you punish yourself by lowering your standard of living every time you want to save money, you'll hardly feel motivated to save. Instead, get creative. Brainstorm ways to make more money on the side, preferably by setting up passive streams of income. Try affiliate marketing, eBay trading or freelance writing. Saving money means finding smart ways to maintain your standard of living while putting money aside at the same time.

Now that you know these five common myths about saving money, it's time to take action. You can save money starting today, and you can do it in any way that makes sense for you and your lifestyle!
If you want to share some things you have heard about saving money and want to debunk them, give us a shout and put the record straight when it comes to saving!