What factors hinders you from saving money??

[Adecyptii]

Haha,I am not too active on the bizdystry forum even though I have known the forum for long,any moment I cash out is just to buy data o,what about you,or you want to help a brother

 

[Partisan]

Saving is necessary for long term Survival because the need for long term is good. You cannot save if you have too many responsibilities and also if you have a family at early stage of your life

 

[Wiserr]

Our personal needs hinders us from savings money. But there's a way out if you earn money save 40 percent of whatever you've earned.

 

[Good-Person]

The biggest problem with not being able to save is when you don't earn enough. Most times what we earn is not enough to cover for our basic needs. And then we start asking ourselves if there's actually any need to save money. If you have varied means of income it's more likely that you want to save.

The pay rates depend on each and every country. Countries with low economy usually have a low-pay rates and this can be devastating for people and families who live in such places. Most of the time, even the government can do nothing because they are simply not able to solve such problems related to employment and they are not able to create high-paying jobs for the people.

 

[Bousine123]

What hinders me from saving is that the money I usually get is not enough to carter for my needs and things are really expensive nowadays I think money has lost it value here.

 

[Heatman]

Saving money is not something that's hard to do. But when one thinks about doing it especially for hustlers like me, something always comes up. Something that would need urgent money attention. For that reason only, saving plans as been destroyed

Having so many responsibilities to take care of his one of the biggest challenges that I have when it comes to being able to save money because the money that I make is not enough to take care of those responsibilities.

 

[CeeJase]

There are so many factors 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.

When you don't plan your finances very well and also become very extravagant with your spending it is always going to be very difficult for you to save money as a lot of useless things will be taking your money.

 

[Kaffyfolla]

If you can’t handle debt, chances are you’re already swimming in an overwhelming amount of it. This can be a difficult obstacle to overcome because instead of saving money, you are paying debts. Debts also accumulate interest over time which can eat into the savings that you have.

 

[Achawaskey]

There are several factors both economic and financial, this period of covid 19 so many items has gone up and once salary cannot keep up to other obligations. Extended family members are also there to help and further makes it impossible for one to save money these days.

 

[Grandeur]

In my country we maintain a very high saving rate. You should have reasons for saving money such as : emergency fund, purchases and wealth building. When it comes to save money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

If your country has a high saving rate then your country's standard of living must definitely be high and most of its citizens earn reasonable amount of money so as to be able to take some of it to save.

 

[CeeJase]

Saving money is not something that's hard to do. But when one thinks about doing it especially for hustlers like me, something always comes up. Something that would need urgent money attention. For that reason only, saving plans as been destroyed

When you have a lot of expenses to take care and you have a small means of making money it is always going to be very challenging for you to be able to save money.

 

[ganibade]

What can inhder me not to save money is my commitment towards my business. There are a lot of people that make their minds when it's comes to saving despite their commitment as family man.

 

[Heatman]

Factors like investment is a very important factor. One should always prefer investment over savings. Saving for me is limited because of the fact that it doesn't increase the money being saved but rather will decrease it
Also, emergencies has hindered me from saving because every time I try to save, I get caught up with expenses

If you are actually investing your money in projects I believe that you are directly or indirectly saving money for yourself because those projects will end up paying your money in the end.

 

[Shigobad2020]

In my own opinion , the only reason that's denying me from Saving right now is that my responsibility increases when I got married and my earnings is not sufficient to meet my needs,

 

[CeeJase]

Factor that hinders people from saving up their monies can't be far fetched. The world is already having it's share of economic woes, talk more of humans having to struggle with meeting daily ends for living.

This is actually very true because a lot of people don't have enough means of making money that would be enough to take care of their responsibility and not to talk about saving much money.

 

[Joy123]

There are so many factors that can prevent one from saving up for the future. They are : high cost of living, sudden increase in price of goods and services, debt financing, political instability, poor income structure and low salary scheme.

 

[eLdavis]

There are several factors both economic and financial, this period of covid 19 so many items has gone up and once salary cannot keep up to other obligations. Extended family members are also there to help and further makes it impossible for one to save money these days.

Yes I can totally relate with that, but have you tried cutting down these expenses? Let's say for example, normally you do give does extended members of your family 5k, you can reduce it to 4k or 3k, then as well reduce what you spend on other activities like feeding and the likes.

 

[Skysaint]

Hardly will a day come and go without me spending a good amount on myself; for my feeding, transportation, school projects and the rest of it. So too much spending is actually what limits my saving ability but in any case, the money I earn here online had helped me with a lot of things I wouldn't have achieved in an ordinary sense.

 

[Syldan]

there are several factors which affect saving or the level of savings which may include poor economic situation associated with low income and lack of planning.

 

[Shigobad2020]

The poor economical condition of the country always makes it difficult for one to save money because there's no job opportunities out there and people are trying to manage the little they are earning.

there are several factors which affect saving or the level of savings which may include poor economic situation associated with low income and lack of planning.