What factors make savings difficult for you?

[Oloritoks]

Factors that can

Post automatically merged: Jan 29, 2021

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Savings can be difficulty due to the precarious situation that is very severe to someone' that's very worse , even for someone that has all the money but nothing to show for interms of saving.

 

[Youngdee]

Saving isn’t so difficult but the problem encountered when you decide to save up is the issue. What mostly affect one’s savings is the cost of things and standard of living. You set out few money to cater for yourself and the rest for savings but along the line the money for taking care of oneself doesn’t get enough and this makes you use the money saved up. In that case you just don’t have a choice

 

[Nathaniel]

So many people find it difficult to save Money for some strategic reasons.
After paying bills, renting, and making loan payments, there's often not much leftover, but by proper budgeting and planning, one can build a proper plan to save money. Some people struggle for external reasons, such as health issues, student loans, sick parents, and more prevalent causes than we think.

 

[mubinadaddy]

Saving for a rainy day is very important in all aspects of life, you have to develop the habit of saving, cause if you are not saving then you will be a slave under your boss forever but saving now for a long period of time can give you financial freedom after converting your saving to an investment that will be yielding passive income to you on a daily basis.

 

[Abbas ali]

By not starting to track your spending, saving becomes quite difficult to do because you don't actually know where all your money is going. There may be opportunities to reduce spending, cut back on certain expenses, and more that can help you start to save money.

 

[btaliat]

People forget or they feel much more motivated to focus their attention and prioritize immediate needs while putting off others that may materialize in the future.

That's just it. Immidiate needs are already priotized mostly by people which hinder them from saving. And if care is not taken, there may not be isny saving for the future. So when planning, we should always take cognizance of the future.

 

[iamgroot]

With many people getting financial education, we are all trying to make sure we don't spend all the money that comes our way, but try to save some percentage for the rainy days.
However, there are certain things that tend to o make this goal difficult.
Personally, a factor that makes savings difficult for me is the lack of the ability to differentiate between what I need and what I want. I spend money on things I could do without.
How about you?

I also experienced that. I like to save, and I have something or hobby that I am obsessed with so it is very difficult for me to save. Maybe at that time the king was still weak in his ability to control things especially when it comes to wants. What I have learned is to learn to hold back especially if it affects your goal of saving.

 

[Caali]

Depending on how much money we are talking about you have the options of buying real estates, investing, giving it to charity or just having fun and spending it all.

 

[tyrim88]

What makes saving difficult for me is the huge wage bill I have to settled when the money comes in.Immediately the salary comes in our wants has taken almost everything.But there are times needs that are not too essential at that period would take some part .But I have learnt to be discipline and save my reserve cash.

 

[Donolatunji]

A budget lies at the heart of any savings plan. Budgeting helps you prioritize your spending and find a balance between spending and earning. You then deduct these expenses from your income, your full-time or part-time job or casual work, retirement, government benefits, payments for child support, investments, etc.

Tell yourself what you should leave out or cut back if you're spending more than you make.

 

[Meerab]

Saving money is not easy there are many dificulties for saving money some time i have extra money except my expence i want to save it but i could not do that beacuse i use to buy some extra things which i have no need some time unexpected event that can just happen and will need the exactra money..

 

[Ayokex]

Most times we are faced with unexpected situations that usually disrupt our spending plan. We often make plan of how to spend our money and have some savings but there are occurrences we do not plan for that eat deep into our finances which makes it difficult for us to save. One can only save when there is budget excess but in a situation where the money is not even enough to cater for the present financial requirements, saving becomes impossible.

 

[Bookwormlux]

What makes saving difficult for me is the huge wage bill I have to settled when the money comes in.Immediately the salary comes in our wants has taken almost everything.But there are times needs that are not too essential at that period would take some part .But I have learnt to be discipline and save my reserve cash.

Whenever there's is an immediate need, it is sure better to work on meeting them rather than just keeping your money. In that case, you do not need to feel bad because you didn't save. Though it's best to have multiple income sources.

 

[Sotherefore]

I save a lot of money because I have plans for the future and there's nothing that is my challenge in saving money but just that the money has been making is not even enough for me to save as much as I want if I make money I would have save enough money as I want without any challenges.

 

[LaylaG]

Challenges with saving money is that if I have the money physically i may not be able to save it, that is why i always try to pay in the little money i have into the Bank, this Will limit my spending habit, this has really helped me alot in some cases.that is what have been doing

 

[Milz]

For me i would say saving of money depends on the individual. Like some people are always used to spending money alot and that's one of the problems a facing now. I would say saving of money really helps alot.

 

[Tanny]

Savings is more difficult when there is constant demand for money and expenses continue to crop up on a daily basis whether it's needs or wants ...once it's an expenses you can break the bank

 

[Bart Simpson]

Even the most challenging problems can be tackled and overcome if you can find a strategy to do so. In analyzing a technique, we make a list of what we need and what we want and then we make a list of things that are more important and things that are most important. In doing so, we can sort out problems better.

 

[Keibah]

Lack of discipline is one huge factor. It is one thing to start saving but it takes dedication and patience to continue. Peer pressure can be another factor. Many people want to impress and live up to standards so instead of saving some money, they use them for frivolous things.

 

[Genius]

With many people getting financial education, we are all trying to make sure we don't spend all the money that comes our way, but try to save some percentage for the rainy days.
However, there are certain things that tend to o make this goal difficult.
Personally, a factor that makes savings difficult for me is the lack of the ability to differentiate between what I need and what I want. I spend money on things I could do without.
How about you?

Exactly, you need a great lot of discipline to be able to dissect between wants and needs. Money makes us unreasonable at times in the sense that we go for things that are not necessary. The only way to solve the problem is having a lists of plans that contains our needs and wants.

Post automatically merged: Feb 9, 2021

With many people getting financial education, we are all trying to make sure we don't spend all the money that comes our way, but try to save some percentage for the rainy days.
However, there are certain things that tend to o make this goal difficult.
Personally, a factor that makes savings difficult for me is the lack of the ability to differentiate between what I need and what I want. I spend money on things I could do without.
How about you?

Exactly, you need a great lot of discipline to be able to dissect between wants and needs. Money makes us unreasonable at times in the sense that we go for things that are not necessary. The only way to solve the problem is having a lists of plans that contains our needs and wants.