If you don’t like the idea of funding a patent with credit cards, loans, or investors, there is always a trusty standby: personal savings. Funding a patent with personal savings is actually not as painful as you might think, and unlike the other options, it does not leave you entangled with any other people or institutions after the fact. When you reach into your bank account and pay for a patent with your own money, that’s it. You own it, and you’ll never hear a word about the finance-related aspect of that patent ever again.

Sounds pretty good, doesn’t it? Of course, some readers are no doubt calling upon the army of rationalizations and excuses for why this is impossible. Here are some of the most common:

1) “I barely make enough money to cover my living expenses as it is, never mind save some of it!”

2) “Saving money is pointless. Plus, it takes too long.”

3) “I can’t discipline myself to save up for something so expensive.”

If you’re serious about funding a patent with personal savings, it’s important that each of these excuses be rejected and replaced with proper thinking. Less that, the goal may never be achieved. So let’s begin with the first excuse. This is by far the most common reason people give for not saving money, both in their personal lives and for major purchases like patents. And there’s usually a grain of truth to it. Many people are, no doubt, struggling to make their current income stretch far enough. But in almost every case, there is something (often many things) a person could do to trim their expenses. How many of the people who claim saving is impossible are eating out 2-3 times a week, or buying expensive clothing, or taking vacations, or other nice, but non-essential purchases? More than you would think.

If you find yourself saying saving is impossible, put that theory to the test. Examine your finances. Is it really true that everything you currently spend money on is absolutely essential? Make a game out of it. Once you have determined the cost of getting your patent, make a list of your recurring expenses and ask yourself, “If I stopped spending money on this, and instead saved that money, how much closer would that bring me to getting the patent?” Almost every financially successful person thinks this way, and if you don’t already, now is the perfect time to start.

Another all-too-common objection is the idea that saving is pointless because it takes too long. An economist would ask (and so should you), “Too long compared to what?” What makes it too long? A provisional patent costs about $400 through LegalZoom.com. Let’s say you’ve assessed your finances and you can only afford to save $50 a week. If you really did save that money, you would have your patent in just two months. So ask yourself: Is it really true that two months (or even four or six months) is “too long” to wait to pursue your invention dreams? What’s the alternative? Unless you plan on funding your patent with credit cards, loans, or investors, the only alternative is not getting the patent at all. Kind of puts things in perspective, doesn’t it?

The third objection is the most honest, because it places the responsibility for saving on you. However, it is no more valid or true than the other two. Nine times out of 10, people who say that they can’t do something are really saying that they won’t do something. Think of people you know (or have heard of) who say they can’t stop eating, or can’t keep up an exercise routine, or can’t get better grades in school. Is there literally some cosmic force stopping them from doing those things? In most cases, no. The bare, crass fact is that those people are not yet motivated enough to follow through on their plans and find what they are doing already to be more satisfying. That’s all well and good, but the question that arises is “How bad do you want it?”

Do you look a year or two into the future and see yourself as a successful inventor? Are you prepared to do everything it takes to make sure that it happens? If the answer is yes, that should be all the motivation you need to save. If you really cannot summon the discipline to set aside a modest amount of money each week for something, chances are you really don’t want it as much as you claim to. We don’t say that to insult you or question your commitment, but at the end of the day, it really is that simple.

Luckily, as we alluded to earlier, saving money for a patent is not the excruciating chore you might think it is. If you start out with a provisional patent (as we always recommend doing), and you purchase it through LegalZoom (no headaches or lawyers!), all you will need to save is a mere $400.

PatentHelpNow.com is a website dedicated to providing inventors with free patent help. You can contact us at: PatentHelpNow@gmail.com