What factors make savings difficult for you?

[Richard92]

The only factor that makes saving very difficult is expenses, if you have experience a lot you can not be able to make saving. No one can be able to solve all their experience and need that is why we need to use the opportunity cost principle to always have our forgone alternative.

 

[Emma Aneni]

Factors that make saving to be very difficult is the fact that you feel if you spend that particular money at your hand you’ll have another soon and you spend it lavishly without thinking. Another one is if you have no desire to save sometimes putting money in t bank and you carry your atm card wherever you go it’ll be difficult for that money to remain in the bank for sometime because you tend to withdraw on any given moment.

 

[Adebayonle7]

Savings may be difficult especially when your expenses are more than your daily or monthly earnings, to make savings easier, one has to cut down expenses by attending only to the most important activities, one must not spend beyond or above limit. You can always create a spending budget but you have to be disciplined in following this to enable great saving outcome.

 

[Janita]

Before you do that, you should know that your subconscious brain makes 90% of your decisions without you realizing it, according to Klontz. And that part of the brain, he says, hasn’t “received a programming update for 100,000 years.”

So, to bypass your subconscious brain, you’ll need to speak its language. It won’t respond to logic or equations or charts; it’ll only respond to fear and pleasure. That’s right: You literally need to scare or excite your subconscious brain into submission.

 

[Chumzy]

The fundamental problem most people have when it comes to saving is Responsibility. The responsibilities you have will determine how much you can set aside a month. As for the money you use for flexing, that can always be set aside with discipline.

 

[Anaya Ali]

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?

In such difficult situation we can save money. The prices of everything is getting high. we should make planning to settle our expenses.

 

[Lagazine]

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?

You are correct, but mine is loads of neccessity. I know the economic word called want and needs, I believe that my want is important but not that. So I spend more on that. The major factor that affect my savings is family expenses. I'm a family man and my income is low, compared to my monthly expenses, so how can I save cash?

 

[Gilead]

It's very unfortunate that even as I always try to save and eventually invest the savings. There are many time that needs rise up and there's nothing I can do but withdraw my savings to meet up with this needs

 

[kayode10]

Procastination is one of the obstacles that stop me from saving some funds aside on consistent basis. I like to put things off til next time. When I receive salary, I know I have to take savings first before any other thing, instead I will pull it off to the next month. Priority is the second stumbling block. I didn't prioritize my spending very, I buy things that come my way.

 

[eenya00]

Some factors that makes it difficult for me to save are firstly my current earning being greatly hit by the inflation rate and recession happening in my country, the cost of living just basically skyrocted.

 

[chicnthin]

When there's only one source of money or income, it's difficult to save money for emergency and stuff. Provided that that income will be used for all of the personal and home expenses, it's impossible to save up.

 

[Abbas007]

Yes, it is difficult to save money on your own. And especially for students, it is very difficult, because he has to take care of his education expenses and the wishes of his friends, and in such cases we cannot save our own expenses.

 

[Yan]

You know, it also difficult for a lot of people and the reason being the fact that they might have a lot of responsibilities, the rainy day you talk about might come more often for some people than others. While some other people have issues with extravagant lifestyle, some can't control what they want too as you said.

 

[Bookwormlux]

It's very unfortunate that even as I always try to save and eventually invest the savings. There are many time that needs rise up and there's nothing I can do but withdraw my savings to meet up with this needs

Sure, that is the best option left. It would not be nice saving money in the bank when you have got so many things to attend to. Though you need to work on expanding your income streams now that demand is becoming too much.

 

[Gilead]

Sure, that is the best option left. It would not be nice saving money in the bank when you have got so many things to attend to. Though you need to work on expanding your income streams now that demand is becoming too much.

That's exactly one of my major object this year,as much as am always trying to reduce my consumption level,the inflation in the economy is still not allowing my savings a feasible one. I just have to expand my source of income as you've said.

 

[Henrywrites]

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?

Spending on others have been my greatest undoing and that's the reason I sometimes wonder how I can be able to work it out in a way that people won't feel bad when I don't help them. Saving is a great way to plan for the future and I want to reduce the way I spend on others and focus more on saving for the future.

 

[Bookwormlux]

Spending on others have been my greatest undoing and that's the reason I sometimes wonder how I can be able to work it out in a way that people won't feel bad when I don't help them. Saving is a great way to plan for the future and I want to reduce the way I spend on others and focus more on saving for the future.

You should not be helping People at the detriment of your self. Remember that you cannot meet all their needs. Better teach them to learn a skill if not they will continue asking you for money till you get broke.

 

[Adegbindin Abdullahi]

Having no financial goal is one of the major reasons why people find it hard to save, procrastination is another thing, you have no motivation and you don’t see the reason to save , living an expensive lifestyle is another thing

 

[Sammyesx]

Low income has been the main challenge, In as much as I would like to save, I have basic needs and expenses, so after setting all these expenses their won't be any money left to save

Post automatically merged: Jan 17, 2021

Low income has always been the biggest issue consigning saving, as human we have needs and expenses, and these are things we cannot do without, so after setting these expenses the money left if their is even any is not even enough to save.

 

[Sake]

Im currently saving but what makes it difficult for me is when i someone needed a money in my family .. im always the first one to offer help... I always say it first before i think about it. Plus i kinda like to spend money on online shopping sometimes even though i don't need it i buy it.