What factors make savings difficult for you?

[Ehizzy1]

I think one factor i could remember is that i had too many expenses to cover up , so this made me spent a lot of cash without saving before i start planning and setting my expenses and savings

 

[Ojonuyo]

Unprecedental events and occurrence makes saving difficult. It break my heart after I have devoted a particular amount of money to be safe for a particular purpose, then emergency and urgent unforeseen circumstances arises making me to spend the intended saving money.

 

[Eyiteepraise]

The factors making it difficult for me to save nowadays is the demands at home that needs to be met, school or tuition fees so we'd be able to engage in educational activities, catering for the extended family too, sometimes the charges some banks remove for saving are also high making saving difficult for some people.

 

[Emmanuella]

There are so many things that makes it difficult for me to save money one of such is lack of steady source of income, it's easier to save if you have a steady source of income, sometimes extravagant spending contributes, I tend to spend on things I didn't plan for especially if it's appealing, if I can discipline myself in that area, it'll be easier for me to save money

Post automatically merged: Jan 5, 2021

There are so many things that makes it difficult for me to save money one of such is lack of steady source of income, it's easier to save if you have a steady source of income, sometimes extravagant spending contributes, I tend to spend on things I didn't plan for especially if it's appealing, if I can discipline myself in that area, it'll be easier for me to save money

 

[Kinglegend01]

The most important factor that affects my savings is that am really not having enough money, like am really managing with the little I have and am kind of a spendthrift, although am working excessively on it.I tend to spend every dime on me on alot of things that might seems really neccessary but with time I will find out that they are useless.

 

[Mrs. Rizwan]

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?

It's hard to save Because there are many people who earn money on a daily basis and meet their daily needs. And they have nothing left for saving On the contrary, saving is also difficult for those who do not have the ability to keep it safe despite having money. Because the style of living of these people is different and they cannot save despite the effort. And I think man has to kill many of his wishes to save... And saving is very important in today's era, which works in difficult times... I am always try to keep saving...

 

[joy101]

The factors are lack of funds, that is the factor that make some people not save money, some are poor monthly salary that will hinder some people to save money, this are the factors that can hinder someone not to save money.

 

[GeneBiz]

Well, I don't know if this qualifies as financial education, but it is something that I have learned over time, if your current source of income is not allowing you to save, it means that that source of income is not enough and you need another or other sources of income. income .. I think that is one of the difficulties that many people find when saving

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?

 

[Fatima]

Spending factor. I can barely save because of my love of buying expensive things

 

[Kennysplash]

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?

Saving is very essential, however the urge to buy what I don't need sometimes makes it difficult for me. So what I do is I save immediately I get my paycheck, so I will do with whatever remains. Not spending first and saving later, and this has really helped me.

 

[GoldenLady]

There are many circumstances that makes saving difficult to me, sometimes, I find it difficult to saving when I am around some attractive things that caught my attention to buy them, sometimes after saving, an unexpected event that can just happen and will need almost the exact money you saved

I can relate to the unplanned buying. This can really hurt your savings, and can alter your lifestyle of not overcome.

What helped me, surprisingly was using a piggy bank to save.

You would save up a part of any money immediately you receive it. This way, you only spend what is available to you.

 

[Divulgence]

Savings is the best tool used in preparation for the future unforeseen circumstances.
Savings are very difficult to commit oneself into if the income doesn't come in in-time. It will lead to unwanted debts that may later be difficult and unable to plan for saving.
Moreso, when the said money is not even enough to solve or cater for at hand expenses

 

[CerebralCortex]

The major factor for me more than anything else is inflation.
There is inflation currently in my country due to economic recession so the prices of goods and services are astronomical.

I spent alot on my basic needs That i am left with littke or nothing to save.
My plan is to find another source of income.

 

[Highflyer]

There are so many factors that make saving challenging for me and do not make me achieve my saving goals, prominent among these factors is daily spending, I spend everyday on basic things like transport, food, internet data and a host of other things. Money that I intend to save is spent on rent and clothing too.

 

[tuna89]

One must first be determined not to spend above one's limit but if the amount you earn monthly is small, saving may be hard for one, also increase in responsibilities especially when you have lots of siblings to cater for, in cases like this one should get more than one income source to ensure sustainability.

 

[Chumzy]

First of all, having the habit of saving is very important. If you don't have that, it becomes almost impossible to save, regardless of the factors surrounding you.
If that is sorted, the responsibilities you have to shoulder comes in next. If you have family, wife or girlfriend who depends on your earning, and then you have to take care of yourself, it becomes impossible

 

[Abibatabosede]

Saving is good but it is not easy to save.
For someone to be able to save you must have taken care of all the important and basic expenses.This means that some people can not save because they don't earn up to what they need.

 

[WhiteHouse]

Partly because they earn less….and partly because they spend more…aspirational expenditure….keeping up with the Joneses…

Many western societies are consumption driven…banks, governments and all others who are in a position to control or influence encourage the people to spend first and pay later…

 

[Machismo]

Saving is very important in life. But Lack of discipline is the major reason why we find it difficult to save our earnings. And often times, we are being pushed or influenced by our peers to just spend lavishly.

 

[Sammyesx]

Saving is very necessary to every individual but most people find it difficult to save, one of the reason is when you expenditure is almost equal or more than your income you find it very difficult to save, because their will always be necessary bills to pay.