What factors make savings difficult for you?

[Maheen]

Expenses ,extra staff salaries and extra space rents..any things which is not in use is an expense

Post automatically merged: Jan 19, 2021

Anything which is useless and giving expense is a hurdle in saving

 

[EMMANUEL]

A budget is the bedrock of your personal finances. Without a budget, your money may be standing on shaky ground. Why? A budget helps you see how much money you have coming in and going out. And, having a budget in place can help you save money.
“One of the biggest obstacles to saving is the average American’s aversion to creating a budget,” blogger J.R. Duren said. “If you don’t have a budget to guide you, then there’s a good chance you’ll be less conscious of how much money is in your savings account.”
Duren notes that your budget acts as a financial compass to guide you toward monthly money goals.
“When you create a budget with a specific section for savings, you can go through the month with that goal in mind, making decisions based on whether or not your purchases will help you meet your savings goal.”
What you budget for – or rather, what you don’t budget for – can quickly become another obstacle to saving money.
“One of the biggest obstacles that I have noticed people have when trying to save is not budgeting for the small expenses,” said LaKesha Womack, a financial literacy author. “Normally, people budget for the big items like their mortgage, car payment, insurance, utilities, etc., but they fail to consider household and personal items. Those expenses can easily eat away at the budget."
“I noticed this in my own budget,” she continued, adding that she gives herself room for miscellaneous expenses. “I am sure to include reasonable amounts for gas and groceries."
In short: build a budget and the savings will come.

 

[singlej007]

So many factor Faustrate people not to have savings, several of them affected me too, mostly if I am expecting money, I will plan on how to spend the money and plan to save some, but few days before the money will land, I will have other things line up waiting for me to solve and thus things were never in the budget.. Before you know it, I will end up not having any savings that period.

Post automatically merged: Jan 19, 2021

So many factor Faustrate people not to have savings, several of them affected me too, mostly if I am expecting money, I will plan on how to spend the money and plan to save some, but few days before the money will land, I will have other things line up waiting for me to solve and thus things were never in the budget.. Before you know it, I will end up not having any savings that period.

 

[Fabby]

people can’t save because their income is insufficient and strained. There is plenty of evidence for this. Real wages have not risen in decades and a majority of people report living paycheck to paycheck. Such prolonged financial hardship and stress makes planning for the future especially difficult, compounding the challenges.

 

[shakky2]

factors that made saving difficult for me sometimes is not being able to control the desire for material thing and negligence sometimes is part of it as i can decide to save the small amount but after a while the opinion can be changed and this will make the savings less progressive

 

[golamike]

Many factors prevent people from saving. The greatest factor is financial indiscipline. Many people cannot discipline themselves financially, they always want to spend as they earn. Truth is there will always be need to acquire something but until one disciplines himself to overcome the urge, it will be extremely difficult to save. One key thing is to know that you're not in competition with anybody. Don't live a fake life or try so hard to impress people. Learn to save from every earning you make and life will definitely become good.

 

[Osaz96]

One factor that makes saving a big challenge for me is the rise of unexpected challenges, I have plans for my funds and then booooom something I never planned comes up. Another thing that affects me is the fact that the money coming into my hands is lower than the cost of my expenses and I honestly have tried working on that but it’s not been easy but I am taking active steps to changing it

 

[Khezo]

Currently, one of the factors that prevent me from saving in a fluid way is the high cost of living that we currently have in my country. However, I try to put all my effort to achieve a minimum monthly savings, and to date it has worked for me. It is not the amount I want but I am going little by little.

Yea I cost of living is one thing that can hinder someone from saving. Then I guess the only thing is for to keep at what you doing. One day things would get better than it is presently thanks.

 

[Rimsha kanwal]

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.

When an obstacle in the road appears, this usually means you take a detour or maneuver around it to get back on the right path – even if it means getting stuck in traffic for a while.

 

[Felixko]

Saving money is a good thing that sustained ones living but they are most factors that can prevent one from saving these are low market of a business ,paying of house rents and school of children and also when one get to know the savers are not trust worthy.

Post automatically merged: Jan 21, 2021

Saving money is a good thing that sustained ones living but they are most factors that can prevent one from saving these are low market of a business ,paying of house rents and school of children and also when one get to know the savers are not trust worthy.

 

[Sariana23]

Yea I cost of living is one thing that can hinder someone from saving. Then I guess the only thing is for to keep at what you doing. One day things would get better than it is presently thanks.

Of course, I continue to insist, it is not the amount I want to save, but with determination and perseverance I will go very far. I am not intimidated by the current situation, I have always been persistent and that has helped me achieve my goals and I will also achieve it. And I know this is going to get better, thank you.

 

[Eamodu]

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?

Knowing when to draw the line between wants and needs ,and balancing them is the only challenge to an effective way to save for many. If one can develop the skills and discipline of going for needs instead of wants, then one can save more over time.

 

[Ifective]

The fact that the more you save, the more needs arise is a major issue. New problem shows its face after you had saved to an extent. The urge to spend money because you have it somewhere gets to you.

 

[Bookwormlux]

Knowing when to draw the line between wants and needs ,and balancing them is the only challenge to an effective way to save for many. If one can develop the skills and discipline of going for needs instead of wants, then one can save more over time.

Absolutely, even though it seems only few people have this ability or a lot are not willing to understand how to be good in making this decision. When you can place your priorities on only things you need, there won't be much distractions and so you will always stay focused.

 

[Thosynho]

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?

Some of the factors that makes savings difficult is indiscipline. Savings is a sure way to financial breakthrough however, one needs to very discipline if one have to make any meaningful savings else, one will only end up wishing he or she saves and will not be able to.

 

[Samuel77]

Saving money is a very difficult task for many people, but as for me, the factors that makes saving difficult for me are my demands, I am a kind of person who loves spending, and when ever I need money to set up a project I will have to reduce my demands, that seems very difficult for me

 

[.V.]

One big savings problem for me are health emergencies, you don't know when it will come and you may not be prepared for it hence you have to take from your savings account to pay the bills.

 

[Zubair]

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?

I'm one of those who can compromise on their desires and needs if I don't have money. Overdreaming kills you. When we start to judge that what is most effective thing for us and without which thing I can compromise, it takes us towards savings.

 

[WhiteHouse]

Assurance, penance, mind molding to oppose allurements, late satisfactions, zeroing in on an objective, more on necessities, savvy spending could be a portion of the talking points that is harder to do. The individuals who could do the previously mentioned will be numerous strides ahead.

 

[Kelly5]

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 yo

So many factors can make savings very difficult for different people. You see, you intend to save a certain amount of money for a certain project, before you know it, an unexpected demand comes knocking and that project is troncated.