What factors make savings difficult for you?

[Bart Simpson]

Whenever 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.

 

[Asad Ali]

Saving is a big challenge because the higher the cost, the harder it is to raise a family. I don't know about other countries but Pakistan is on the rise at the moment And it has become almost impossible to save Here, saving can only be done by those whose business is well-settled.

 

[Sarfraz Ali123]

By not starting to track your spending, saving becomes quite difficult to do because you don't actually know where all your money is going. There may be opportunities to reduce spending, cut back on certain expenses, and more that can help you start to save money.

 

[Aslam Ijaz]

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 every country today the rate of demand is increasing tremendously. In such a situation, if there is only one earner in the house, it does not seem possible to make a living. In addition, if they have unexpected weddings or have to travel somewhere, they come at a cost. I gave you these things to make us feel short of money.

 

[Senator]

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?

One of the factors that makes saving difficult is indiscipline, though the income is too little to even take care if basic needs, that on it's own shouldn't be an excuses for not saving. Inability to be focused is another default, but the master of them all is indiscipline. Differentiating between wants and needs can go a long way to help in savings

 

[Kehinde]

Americans typically maintain a very high savings rate. You should save money for three basic reasons: emergency fund, purchases and wealth building. When it comes to saving money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

 

[shakky2]

the first factor is procastination which has to do with the fact that you decide to save today and you later change your mind.another factor is not being able to avoid material crush for some unuseful things and staying away from material things

 

[Hdre3m3n]

What makes savings difficult for me is that I forget, and sometimes feel much more motivated to focus my attention and prioritise my immediate needs while putting off others that may materialise in the future.

 

[Nicklas22]

Banking problem ::

The Financial system is also geared against Nigerians. Using a Commercial Bank Savings account can be counterproductive. It allows you access to the funds anytime especially with mobile banking and debit cards. The banks also charge excessively for various services often cutting into savings and hardly allowing fixed deposits for small amounts.

Post automatically merged: Jan 25, 2021

Banking problem ::

The Financial system is also geared against Nigerians. Using a Commercial Bank Savings account can be counterproductive. It allows you access to the funds anytime especially with mobile banking and debit cards. The banks also charge excessively for various services often cutting into savings and hardly allowing fixed deposits for small amounts.

 

[Lekan]

The factor the make savings difficult for me is that ,the time I suppose to save money that is when one problem will usually come of me and is not only that one ,the second problem is that ,my family depending on me .

 

[shakky2]

there are many factors that make savings difficult for me which includes not being able to take caution on cravings and also trying not to adjust on material things.also the fact that there are so many needs that needs to be satisfied

 

[Aniwhyte]

There are quite some numbers of factors holding not to be able to save quite some amount of money. From unnecessary and reckless spending, a lot of bills hanging on my next, house rent is there, electricity bills also, food the list is just endless.

 

[LaylaG]

I don't have any factors that makes saving difficult for me,if I have enough money and I'm serious to do one thing or the other with the money there is no hindrances that will stop me from saving the money because I have a purpose but if I don't have a purpose for that money i may spend it extravagantly.

 

[Lyrrex]

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.

 

[Judee201]

Savings generally depends on the person mindset that's involve in the saving, how the person minimize spending.
A person who want to save must minimize how he spends and stick to statistically savings some fraction of what his income

 

[Shayo]

For me, what makes saving difficult is inadequate tracking of my spending. This doesn't happen often because I try to work with my budget but it just happens some months when I don't actually know where all my money goes. So I try to track my spending those months to get a balance.

 

[Rainlover207]

Saving has no difficulty, it depends on the person involve, some might find it difficult because they are used to spending excessively ,they will find it difficult to save.

 

[Cybersec]

saving money is not easy though, but its possible through proper planning . I have been able to save some money by planning future ahead of time.

 

[RETIRED SINNER]

There are a couple of factors that makes it difficult for people to save money and it differs from person to person. One of the factors is too much family responsibility. For instance a man with five children will not be able to make savings compared to a man with just one child.

• Why Is It So Hard to Save Money? Here Are 7 Reasons. ...
• Afraid of Looking at Your Spending. This was the most challenging place to start for me as I knew my spending was way out of control. ...
• Keeping Up With Peers. ...
• Lifestyle Inflation. ...
• You Just Don't Care. ...
• Not Thinking Ahead. ...
• Not Enough Income. ...
• You Don't Know How.

 

[Setfragil]

There are many factors that makes savings difficult and the number one is indiscipline. Before you can plan to save you first have to check yourself if you are very discipline in keeping things and putting your mind off it. Another thing is focus, you must know the reason why you save and stick to it.