What factors hinders you from saving money??

[Sotherefore]

I recently heard about the ongoing saga which concerns the USD going on scarcity. I don't know the way forward of CBN government developing our own CBDC. Let's cross our hands and watch this saga unfold.

That is what I am doing actually, but I just think that they really need to be careful not to make everything difficult for people in this country, they should try as much as possible to return the value of naira.

 

[Heatman]

I have heard widespread responses about the difficulties involved in saving money due to issues unrest. What you should ask yourself is that, when will this issues unrest wave off, so I'll save? My answer is 'Never, issues never go off from mankind. As you are taking responsibilities, you shouldn't forget to save something for the future. Remember their is life tomorrow, don't spend like everything is finished today. Irrespective of that, i know their are still factors that hinders our saving progress. Can you take your little time out and point out those factors that never allows you save.

Seriously, having a lot of expenses is one of the biggest challenges most people face when it comes to being able to save money always because of too much expenses.

 

[Razor1911]

Seriously, having a lot of expenses is one of the biggest challenges most people face when it comes to being able to save money always because of too much expenses.

It is important to curtail the expense so as to improve the the capital of the business. there are various ways to cut the expenses like having proper money management, proper handwritten expense and income source etc.

 

[Sincerem]

Seriously, having a lot of expenses is one of the biggest challenges most people face when it comes to being able to save money always because of too much expenses.

That's why we need to manage our spending, make budgets on our priorities and not just spending lavishly but spending on purpose.

 

[Chibson]

What is on my mind now is investing in a lot of cryptocurrencies and not even saving money but I think saving is also very important.

 

[Sincerem]

What is on my mind now is investing in a lot of cryptocurrencies and not even saving money but I think saving is also very important.

Investment and savings is interrelated. If you're investing via Cryptocurrency and you are buying to holdl it is also called saving, but in an advance form.

 

[Kelly5]

Aside from the listed factors I will list below that hinders me from saving money, I still save my money regardless while meeting up these needs. Family factors tops the list among them

 

[Peace elijah]

Unforeseen circumstances, transportation,feeding,shelter are things that hinder us from saving

 

[Yusuf]

The major factor that hinder me from saving money is that I earn low amount of money and I also have some huge responsibility i need to cater for. If I can see other source of income I can save

 

[Razor1911]

The major factor that hinder me from saving money is that I earn low amount of money and I also have some huge responsibility i need to cater for. If I can see other source of income I can save

That's what happened with most of the people. The liabilities are more than the income. So it becomes very difficult for such people to save money. The only way here is to increase the income and restrict their expenses.

 

[Richard92]

The bitter truth is that you can't save if you don't have enough money on you it is when you have enough money that you can think of saving imagine a person that is hungry without any money and then planning on saving is that a wise idea no it is a living soul that saves

One of the factors that hinder means I'm saving money is too much expenses when you have most expensive you cannot be able to save money.

 

[Thinker009]

Yes this will really help you a lot, this is what we all need to try to do and that is what I have been doing myself , I save at least 5% of my monthly income on the emergency account, it always help a lot.

It's Good you are saving some percentage , because most times in life anything could happen and we might need money to sort out some things , it's important

 

[Ralphjoe]

When you spend 50% of your money on transport and 30% on food. The money spent on transport can change anything. It can increases. At the end of the month what is left to save?

The factors that hinders me from saving my salary her the availability of silver expenses that arrives unexpectedly because what I normally do when I receive my salary is that I create a budget but there are some situations whereby expenses just arrived at I never did projected for this are the ones that always take up my salary.

 

[Tolumi]

I have heard widespread responses about the difficulties involved in saving money due to issues unrest. What you should ask yourself is that, when will this issues unrest wave off, so I'll save? My answer is 'Never, issues never go off from mankind. As you are taking responsibilities, you shouldn't forget to save something for the future. Remember their is life tomorrow, don't spend like everything is finished today. Irrespective of that, i know their are still factors that hinders our saving progress. Can you take your little time out and point out those factors that never allows you save.

I have been in a situation where what I make monthly is not more than 30% of my monthly need ( not note I said need not just expenses) in such cases you have to borrow to meet up till you start earning what will be enough. It's almost impossible to save in such conditions.

 

[HayKay]

One thing I've learnt which I find true is, the 40:30:20 principle which implies 40% of your income goes for your everyday expenditure, 30% could be kept for emergencies while the rest 20% can be saved

 

[Bousine123]

The main factor that hinders me from saving money is the fact that my money doesn't grow in my savings, I'll use them to invest than save them up.

 

[Jlife]

It's Good you are saving some percentage , because most times in life anything could happen and we might need money to sort out some things , it's important

Yes it's very important that is what I am also trying to make sure I do not lack some money in the emergency account, this will save you from running helter-skelter looking for where to borrow money.

 

[Good-Person]

life as a student is a hard one to save is always a problem because you have one or two things to sort out changing from materials even certain some courses so that you come out with a good mood so some of these things as as obstacle to saving.

Life as a student might be really tough but practical life is tougher. I remember there was a time when there wasn't much inflation during the 2006-2010 era and we eanjoyed a lot during that time. Right now we are living during the bad times and situation will get worse in the future.

 

[Grandeur]

When you spend 50% of your money on transport and 30% on food. The money spent on transport can change anything. It can increases. At the end of the month what is left to save?

It's just saddening the kind of hard life we are subjected to in the urban and metropolis areas seeing that the little we make that is all we spend and it's not even enough

 

[Sincerem]

I have been in a situation where what I make monthly is not more than 30% of my monthly need ( not note I said need not just expenses) in such cases you have to borrow to meet up till you start earning what will be enough. It's almost impossible to save in such conditions.

Practically impossible to come up with saving money when the earnings are too low, well adrift of the expenses at hand. That's why we strive for better earning gig.