What factors make savings difficult for you?

[Prettyjanie]

Savings is way of reserving money for the rainy day or for your project. However, there are factors that makes this impossible. Such as lack of funds, so many responsibilities with low income. For some people, its like of indiscipline, they are not good with money.

 

[Shahid]

We tend to think of an obstacle as something that stands in the way of achieving a goal. But sometimes, an obstacle can manifest as the absence of something, like a lack of financial knowledge.

Financial literacy can be translated as being knowledgeable about how finances work. Insufficient financial

 

[Adesuwa]

Nowadays individuals want to make sure they have savings but due to the fact that they have to much of liabilities and debt to pay or their cost of living and house rent so due to this they might not be able to have savings.

 

[Prettyjanie]

Savings is way of reserving money for the rainy day or for your project. However, there are factors that makes this impossible. Such as lack of funds, so many responsibilities with low income. For some people, its like of indiscipline, they are not good with money.

 

[Cybersec]

As for me, when ever I want to save money i would see something that will attract to buy, even I may not really needs the thing but I will just sure that spend the money. I do not know how ignore unnecessary things, if someone asks me for money I give it to person.
So, that is my own difficult saving

 

[Victor72]

There are three factors that make saving very difficult for me. number one my expenses my expenses is too much compared to my monthly income this is the reason why I can save a lot because my monthly income is too low for me to take care of my family and my children

 

[Neeta313]

What would actually make savings difficult for someone would be due to responsibilities and extravagant spending. For responsibilitiess, people who have a lot of responsibilities like taking care of things, they may find it difficult to save by the time they take care of those expenses, also people who spend carelessly will also find it difficult to save.

 

[GoldenLady]

This problem you face is something I'm struggling with now, and it has eaten so much into my savings.

The key is to make a budget and stick to it. Also avoid keeping money you don't really need in your wallet when you go out, or browsing online shopping sites.

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?

 

[Sanusi]

I think its both external factors and internal factors, external factors involves things that attracts an individual like luxurious things, and also peer group do affects an individual while internal factors include the family or your relatives. So these are the factors that affect saving.

 

[FreshKaz11]

As for me I spend money on what I can't do without so am trying to save more this days but not easy for me,because what I need most and I bought it and keep might be faulty or stolen so I have to purchase another one again, so am praying to God to stop all this problem coming as soon as I have money with me ,so that I will be able to save more incase of needful.

 

[Dowenship]

You have plenty money be that ooo... But I think done rains why done people don't have saving stability is probably because of family and responsibilities. These are expenses that prevent savings..

 

[icars2105]

This are some of the factors why it is difficult for me to save, first of all, sudden emergency where we needed cash on hand. Second, the difficulty to distinguish what I need and what I want, it became much difficult because of the situation we are having. And the last one is the inflation of market price and utility.

 

[Billy]

Since the pandemic hit, the greatest impediment to my savings is the reduced income sources. I don't have enough to meet my needs and save too.

 

[Sincerem]

Having too many accumulated debts, unnecessary spending, issues being bigger than what i make per week, week or annually. This kind of factors can slow down my saving chances. One will too many debts finds it hard to save a penny.

 

[Justin]

I do not have a income source. The only way I get money is through parents' allowance. Since I live on allowance, I cannot start saving. I try to minimize my expenses low so that I do not incur any debts.

 

[Adventurer]

As for me, when ever I want to save money i would see something that will attract to buy, even I may not really needs the thing but I will just sure that spend the money. I do not know how ignore unnecessary things, if someone asks me for money I give it to person.
So, that is my own difficult saving.

Lol this is very true, but one has to be very disciplined and determined in other to focus on savings, I also use an app that penalises one in form of fees if you must withdraw your savings before the stipulated time

 

[Queentener]

I will give a personal example, before I got married savings wasn't difficult but now I can't think of savings because there are things to be done in the house and I can't leave the responsibility to my husband alone.

 

[Setho]

Saving of money is actually something that one needs to develop a lot of discipline in order to practice. I am still saving my money in bitcoin though I am earning just a little and I have problems with the growing inflation and cost of products which sometimes don't make me.

 

[Sincerem]

Saving of money is actually something that one needs to develop a lot of discipline in order to practice. I am still saving my money in bitcoin though I am earning just a little and I have problems with the growing inflation and cost of products which sometimes don't make me.

Without discipline when it comes to savings, it would be impossible to achieve the aims of saving money. I love saving my finds too around Cryptocurrency, investing on long term trading, and staking of coins to add more to my earnings.

 

[Victor72]

One of the factor that makes saving very difficult for me it's my family's expenses, I am the only son of the family and all responsibility rests upon me