What factors hinders you from saving money??

[Anas Chaudhary]

5 Things That Can Help You Save Money
One of the best ways to maximize your savings is to keep track of your expenses and budget each month.
Refusing to cut back If you are not willing to cut costs to increase your savings, you will fail to see steady growth in your savings.
Not being developed.
Too much debt.
To excuse

 

[Thosynho]

It was a lack of plan, discipline, and dedication that caused the tragedy. There is a lack of a plan in the sense that when you don't have a plan for your money, you will end up squandering the money on irrelevant things and at the end of the day you will not know precisely where the money went or what exactly did you invest your money in. (All the 'notessss' are in parenthesis.) Therefore, save money to increase your potential net worth.

This is a valid point. Lack of plan for the day, week and month can make spend lavishly and forget about savings. No money can be enough when it's not properly planned for. You need to be discipline with your spending and savings.

 

[Nomad]

In order to save money, you should be earning more money that you need to pay bills and buy groceries. However, for most people this is quite not possible because their earning barely meets their needs. That'a how I am. The only saving I do is paying life insurance premium.

 

[redpogi16]

It's very good to be saving a money for future purpose in case you may need money urgently. But if there is not enough money to use for daily need how to manage to save money, some time if I want to buy something that makes me be saving a money but later something else may emerge that will take the money by spend it...

 

[Clara]

I am being hindered by many things, number one of it is food. It is when you are well fed that you will think of saving money. You may decide to save so so so amount every year, but u will realise at the end of the year that you have consume almost all.

 

[bhennie]

So many factor to consider and so many things can hinder you from making savings. One key factors that can put a stop to creating the habit of saving is the fact that one feels they don’t get enough take home after the month, and after making a list of everything they need, they are left with nothing

 

[Halexcity]

Savings is very essential for a man, in other to have a hope. Its also when you when you save towards a project. Trying to save money there are any hindrances that won't make u save money. For example immergency may be from parent or junior ones, when salaries are not paid at when due can also causes it, health I.e suddenly change in health status can also causes it etc.

 

[Muhammadawais]

Things that are keeping you from saving money

One of the best ways to maximize your savings is to keep track of your expenses and budget each month. ...

Refusing to cut back If you are not willing to cut costs to increase your savings, you will fail to see steady growth in your savings. ...

Not being developed. ...

Too much debt. ...

To excuse

 

[KvngMurphy]

Inflation is one of the factors that hinders a person from saving. Inflation can have an effect on saving. If there is high inflation – and if inflation is higher than interest rates, then this will discourage saving. Households may look to either spend money before it falls in value or buy assets which hold their value during inflation.

 

[adazeez1995]

Family responsibilities. I am the first child and I have got younger siblings who are still tender to provide for. I presently work at two jobs just to have enough to feed and educate them. At the end of the day, nothing is left to invest or save. The cycle continues every month/year. I always put my siblings first before myself.

 

[Afrinish]

I am trying to do a research about what could be the factors that could affect the financial management of students specifically those who are in middle ...

• Higher interest rates mean that households will gain a higher rate of return on depositing savings in a bank. ...
• Income levels/Economic growth. ...
• Income distribution. ...

 

[Adeyoola7]

If you are not willing to cut costs to boost your savings, you will likely fail to see consistent growth in your savings. It's a good idea to break any splurging habits you have (like if you can never stroll through a certain store without spending), create a more frugal budget and search for painless ways to spend less. Some ways to do this — ignore sales, eat out less, consider doing for yourself some of the things you currently pay others to do and switch to generic products.

 

[Genialboy]

The following factors hinder me from saving money, budget deficit, low income,and unseen circumstances,

 

[Princeeffiong]

There are o many factors which hinders the ability to save. such as lack of proper planning or budget on how to spend your money well. Most times people enter the market without a list and so ends up spending all and not buying the required things needed. Sometimes it can be lack of self control over our desire to acquire all that the eye sees and loves. There should be olanning before spending.

 

[Kunkun]

One has to earn to save, for someone without income, saving can however be hard but doable still. Pleasures 9f the flesh mostly hinders me from saving, lack of discipline

 

[Yewande]

One thing that prevent me from saving is my appetite for buying good things. I know it is indiscipline but sometimes I can't help it. I use my savings to buy something that comes cheap at the moment and of good quality.

 

[Good-Person]

There are several factors that can influence your savings. Unexpected expenditures are one of them. Spending money in an extravagant way can also destroy your plans to save money. A low income is also one of the main reasons for why you might not be able to save money.

 

[solomonmali]

This states that an increase in the price of a good will encourage consumers to buy alternative goods. The substitution effect measures how much the higher price encourages consumers to buy different goods, assuming the same level of income.

 

[Irfanali]

Factors Affecting Savings Levels

interest rate. Homes with higher interest rates will have a higher rate of return on savings. ... income level / economic growth. ... income distribution. ... wealth. ... trust. ... Population / Age Distribution. ...Inflation. ... cultural factors.

 

[Sad56]

Not keeping track of that. One of the easiest ways to maximize savings is to chart the expenses and build a budget every month.
Refusal to scale down. If you are not able to slash spending to raise your savings, you are unlikely to see a consistent rise in your savings.
Even too much debt can also stops you for savings