Why is it so difficult to save money?

[magnus2022]

Why is it difficult to save money. I have tried to save money but most times i fail to reach my goals. Before i know, i will be in dire need of money and i will be forced to make use of the money. I have tried many strategies but all failed woefully. How do you save money and reach your goals?

 

[Suba]

Everyone has a different way of saving money, although I also have a bank account but only for transactions and small amounts, I prefer to allocate funds to investment instruments which are more difficult to cash out than using an ATM.

 

[klassicdoll]

I am so with you on this, as I am having trouble saving money too. especially since there are sales just around the corner. so many temptations

 

[Mike30]

Easier said than done... Use leverage to increase your income, but without increasing your expenditures on unnecessary things.

 

[neku]

I am victim of government financial fraud since 2010, due to which I find it difficult to save money and my income is very low. Earlier government employees did not commit fraud on me, so I could save some money.

 

[eLdavis]

It depends though, for each persons it is usually different for most persons. For me it is hard to save money because I have a lot of expenses I need to sort out.

 

[freelancermaria]

Saving money is becoming increasingly difficult as everything becomes more expensive due to inflation. However, I try to save even a small amount each month. I always save the spare change. LOL

 

[Stardom22]

For me l think that the reason is because the financial resources are limited in supply.

 

[Augusta]

Yes we are operating on limited resources but with unlimited wants. it would always be hard to save

 

[King Belieal]

Saving money is difficult when one has so much financial responsibilities that their earnings get sapped by them.

 

[Starmix]

I started savings when I was 11 years old. I never spend a single cent from my savings. They're accumulated after I started working. The accumulate saving is the one I used as capital of my milk tea business in the mall.

 

[arunima25]

Inflation makes it very tough to save with all the prices going a sky rocketing. But the main culprit is the lack of financial discipline in most people whom I know around me.

 

[riberet19]

We all agree that inflation is one of the main causes of most people not being able to save, and the stagnation of wages is another key factor.

 

[arunima25]

Inflation is something that can't be avoided, especially with a developing economy. Yes, in the recent times we have seen steep inflation and that can be challenging for any common man. It becomes very important to be financially disciplined and account inflation into your budget and planning. Keep visiting your portfolio and keep making changes and adjustments to meet the saving goals. Recategorising needs and wants depending on the stages and situations in the life is important. Once saving becomes a habit, you would more or less stick it to despite the challenges.

 

[Min George]

We all agree that inflation is one of the main causes of most people not being able to save, and the stagnation of wages is another key factor.

I think more than inflation, the stagnation of wages makes it more difficult to save money. People even spend their entire income in three days now.

 

[Springtime]

In order to be able to save money, you have to have income. I make it a habit to save a portion of my monthly earnings to a fixed deposit account.