Abigael
Valued Contributor
It is no doubt that saving is very important. First, it helps you manage your money such that you have some money for the rainy days. Secondly, saving ensures that you don't suffer during emergencies. Lastly, the amount you save can be used for gaining profits from investment or a business.
Despite these benefits of saving, some people don't engage in it. Some of the factors that could be preventing them from saving include;
1. Having low income.
This could be the main reason why people don't save. You find that the amount you earn is just enough for your expenses. So you need to find other ways of earning extra income or look for a better paying job.
2. Lack of a savings plan.
For those people earning a better amount of income, lack of a savings plan could be preventing them from saving. It is best to budget your money well and include savings in it. Also having a target for your savings like buying a car or just saving fir emergencies motivates you to be better in saving.
3. Lack of self discipline.
For other people lack of self control could just be the reason why they don't save. They may find themselves in just spending money carelessly till they don't have anything left to save.
Despite these benefits of saving, some people don't engage in it. Some of the factors that could be preventing them from saving include;
1. Having low income.
This could be the main reason why people don't save. You find that the amount you earn is just enough for your expenses. So you need to find other ways of earning extra income or look for a better paying job.
2. Lack of a savings plan.
For those people earning a better amount of income, lack of a savings plan could be preventing them from saving. It is best to budget your money well and include savings in it. Also having a target for your savings like buying a car or just saving fir emergencies motivates you to be better in saving.
3. Lack of self discipline.
For other people lack of self control could just be the reason why they don't save. They may find themselves in just spending money carelessly till they don't have anything left to save.