What factors make savings difficult for you?

[Ghost]

I would advise you write down what you want and what you need. Needs must always supercede wants. Make sure you spend only on your needs. That helps me, think it can help u as well

 

[Wiserr]

I think most of us here the most challenges we are facing that hinders us from savings is our needs, everyone has his or her personal needs.

 

[greenie]

Truth is that saving is not easy, anytime you try to save money one problem or the other usually come up and claim it. We all have families and responsibilities which affects our ability to save, so for one to be able to save and still take care of responsibilities, you need to have more than one source of income, and also try and cut down the level of expenses you incur, that's the only way to have enough money to save.

 

[Sotherefore]

There is none for now, I still have a lot of things to do with money and that is what makes saving very much easier for me. I believe people who are not really interested to invest are those who do not have good plan for themself in the future

 

[Shigobad2020]

I think most of us here the most challenges we are facing that hinders us from savings is our needs, everyone has his or her personal needs.

The only factor that makes saving a difficult things for me is that i have many responsibilities and money is not forth coming , so the needs I hindering my savings.

 

[Abigael]

I would advise you write down what you want and what you need. Needs must always supercede wants. Make sure you spend only on your needs. That helps me, think it can help u as well

That has helped me alot too. Spending money on only my needs prevents me from spending it on the things that are actually unnecessary. That way, I can save so much for the future. People should learn this as it helps alot for sure.

 

[Shoaib5600]

Very interesting Question. I think it depends on the pocket money. If someone is a job holder then for him depend on expenditure. Nowadays it's big problem with me that I can not save money properly.

 

[Shigobad2020]

Being able to save money depends on the amount of your income, If you are earning huge amount of salary and you are financially stable , saving money will be easy.

Very interesting Question. I think it depends on the pocket money. If someone is a job holder then for him depend on expenditure. Nowadays it's big problem with me that I can not save money properly.

 

[Grandeur]

As you have rightly said, savings is important in our financial literacy journey to be financially free but one thing that restricts me is discipline. I end up spending my savings.

 

[Psalmseen]

There are lot of factors that makes savings difficult. The major reason and crucial one among them is the lack of discipline. When one lacks discipline, to save would be a thing that'll seem difficult. Such person wouldn't know when to spend and when to save

 

[kayode10]

I like to buy an impluse and this is one of the reason why I finally difficult to safe money. Another thing is that I procrastinate a lot. I always remind myself that I will start saving the following month.

 

[Skysaint]

I just have a lot of things to spend money on; my school projects, taking care of myself and doing so many other random stuff. For you to go through each day, you will be needing to spend, and for someone who ain't earning enough, saving will be quite difficult.

 

[Good-Person]

Factors that could hinder money savings talking from experience may be; responsibility, reinvestment of profit made from business transactions, extravagant lifestyle, covetous trait, money mismanagement, lack of self restraint and discipline, etc.

A lack of willpower and willing to spend more could be a big hindrance when it comes to saving money, especially if you live in a country where inflation is ruining economy.

 

[kayode10]

Lack of self-control is one of the reason why I am unable to save money. I always feel like spending any time I have enough cash with me. I end up buying some of the things I don't need.

 

[Psalmseen]

There are lots of factors that makes savings difficult. One of the major factor is lack of discipline. When someone lacks discipline such that the person doesn't have priority when it comes to needs, he or she buys anything.

 

[ganibade]

What makes saving difficult for me is when I remember that my income is not up to what I spend every month,this make me not to save money,and I plan my self to satisfy myself and my family,and try to look for better jobs.

 

[Shigobad2020]

The only thing that makes saving money difficult for me is that my monthly income is not sufficient do me , and even if I save , I will be forced to withdraw the savings .

 

[Heatman]

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.

One of the biggest challenges that comes with being able to save money is when you make less amount of money and have so many responsibilities to take care of.

 

[Shigobad2020]

One of the biggest challenges that comes with being able to save money is when you make less amount of money and have so many responsibilities to take care of.

That's one of the worst challenges that could hinder saving money, take for example you are earning #15,000 and you are having a responsibilities of $16,000 monthly , that means there's no room for saving.

 

[Ogbest]

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 may be find very difficult especially if the person in question is not having enough. When you are not able to feed three times a day and you earn small amount of money. Here, the expenses may be higher than your capita.