What factors make savings difficult for you?

[ranaabubakar263]

If you are a businessman and you have just started a new business, it will be difficult for you to save more money because you will need more money to run your business so you will have a hard time for you. And gradually when you become an expert you can make more money. You can make more money and then you can save more income.

 

[Abid]

There are many problems you have to face during saving but these problems iccure due to your mismangment. So you should firsty chek your monthly budget all your monthly expensive then you can easily saving.

 

[marky]

Absence of monetary education
We will in general consider a hindrance something that holds up traffic of accomplishing an objective. Be that as it may, once in a while, a snag can show as the nonattendance of something, similar to an absence of monetary information

 

[Taimoor Jutt]

When the low member of family earn and high members of family do not earn then controlling on Expenses become difficult. So saving becomes low. Plus when extra desires are born then saving becomes too difficult. So these are some basic things that stop you to saving.

 

[Atiqurrehman]

Obstacle 1: Lack of financial literacy. We think of an obstacle as something that stands in the way of achieving a goal. ...

Obstacle 2: Don't budget. A budget is a feature of your personal finances. ...

Barrier 3: Too much debt ...

Obstacle 4: Spending aimlessly. ...

Obstacle 5: Self.

 

[zahidhussain]

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.

due to lack of experience I have no idea to save my money I have spent all my money on my daily work financial I have much better but spend all my money on routine work and at the end of month my pockets is empty

 

[Bookwormlux]

a lot of things make savings difficult in this century of ours. First is distraction and the pressure from one's peer to use the latest phones, wear the latestclothes, and display some kind of wealth that doesn't really exist. All these make savings difficult

You will have to work on your self and take your stands, if not it will end in regrets. No need living your life to impress anyone when you have got so many things to Carter for. Savings would help you meet your big demands.

 

[Akinwale701]

You will have to work on your self and take your stands, if not it will end in regrets. No need living your life to impress anyone when you have got so many things to Carter for. Savings would help you meet your big demands.

Exactly.... If our youths if nowadays can take this message of yours, it will be very better and savings will be easier for them. in fact, a lot of people fall into this category of being distracted and not able to save as supposed to

 

[CeeJase]

None that I can think of unless we are putting into consideration using the saved money for business creation or for investment because those two are what is eating up my savings. Growing up I was made to appreciate money as small as 20naira which was supposed to be my transport money to school but I'd prefer to walk it just so I could save it.

 

[MercySmith]

One way to increase your ability to save money is to reading books on finance. Books have a way of challenging us for better. Using Piggy bank is one good way to save. Or opening a fix deposit account.

 

[Olubayo12]

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?

Savings is difficult for some people due to the act of living to impress others, buying what they don't need and for some people savings is hampered by their inability to make much more money neded to allow savings. Each has different reason.

 

[Bookwormlux]

Savings is difficult for some people due to the act of living to impress others, buying what they don't need and for some people savings is hampered by their inability to make much more money neded to allow savings. Each has different reason.

Those who try to impress others are obviously suffering from low self-esteem and this makes it difficult for them to make effective financial goals. Without savings, life would be really difficult especially when you are earning small income

 

[Olubayo12]

Those who try to impress others are obviously suffering from low self-esteem and this makes it difficult for them to make effective financial goals. Without savings, life would be really difficult especially when you are earning small income

Exactly... Low self esteem and inferiority complex is what is affecting them. How on earth would I be living my life to impress any other person? For what reason will I ever choose to do that? It's a very bad things to try such

 

[iamgroot]

Saving is necessary so that you can use it in the future, it can be a future business or preparation for your retirement plan. So you save is because of your work. And my only income from your work is to be able to earn a living. That is sometimes the obstacle to saving a person, the depletion of his salary because this is the only thing he expects to live on every day.

 

[Victor001]

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?

Savings on its own is not an easy task, because as the day go buy needs arises and must be attended to. Its difficult when you dont have good stream of income. Nevertheless it takes certain discipline to save, having in mind a set target.

 

[Abdul Naveed]

By not starting to figure out your expenses, it becomes very difficult to save because you don't really know where all your money is going. There are many ways to reduce costs, reduce costs and many more that can help you save money.

 

[jimmann247]

A lot of things actually makes saving difficult for many, most people don't have financial means of earning, how then can they think of saving, some person have a job but the salary is very low which can't even meet up their needs.. A lot of things make saving difficult.

 

[Kiwi]

The major factor is lack of budgeting or budget plan. It is important for individuals to do their proper planning before going about birthing plenty children that you can not take good care of. One of the factors is too much family responsibility. And there are some other family issues that needed to be attended to which affect me directly or indirectly.

 

[gbadebo9]

What making saving difficult is in different ways. If u save the money in commercial bank to get it back will be very tideous to manage. During the covid 19 whoever that have money in the really experienced lit if problems in withdrew their money saving in their bank which is hitch free when save but problem when to withdraw it. Saving is good but our need to be friendly with ppl so that to access their money will be easier.

 

[Ebensco]

Personally, savings becomes difficult when looking at the possibility of increased inflation rate in the nearest future. Increased Inflation tend to decrease the purchasing power of the saved funds