Is it true that people who earn money daily find it hard to save?

[Etini]

In the world today, we have people that earn money everyday they step out to work. That means that at the close of work each day, they get their payments. Others though get paid at the end of every month. Those operating transportation businesses, artisans and some entrepreneurs get their income daily.

The general consensus though is that people who earn daily are always complacent about savings because there is always an assurance of earnings the next day. Only a limited percentage of these daily earners employ strict financial management in relation to their finances.

Do you have daily earners around you? Why do you think they find it hard to save? Do you earn daily? Do you find it hard to save?

 

[Axis]

To some extent this is true but to some other extent it might not be true for all individuals. There are some individuals that have master the act of saving money and that is because they understand the necessity and the importance of saving money which is basically the fact that saving money helps you to be financially stable especially for emergencies and for unforeseen occurrences in the future and so it does not matter whether this individuals and money daily, at least they will allocate a reasonable amount of money for saving purposes.

And the other hand it can be disadvantages to an individual saving habit if he or she gets paid daily especially if such individual lives from hand to mouth.

 

[Mika]

What do you mean by people who earn money daily? Do you mean people who work on a daily wage basis? If you have cashflow, or let's say you receive payment daily, it will be easier to manage your money. It is easier to save and invest if you are receiving money on a regular basis. Even for daily wage earner, saving and investment becomes easier. However, the money you make should also be enough to maintain your life. If you cannot maintain your life with income, it is difficult

 

[Abigael]

I think the reason why daily earners find it hard to save is because they lack self discipline to save. Without self control, your spending desires will take over your rational thinking making you unable to stick to a savings plan. I think it is totally possible to have a savings plan if you learn the discipline of saving.

Another reason daily earners are not saving could be that they are not earning enough money. It could be that their expenditure or needs surpass what they earn. Hence, they are unable to save anything at the end of the day.

 

[moonchild]

Yeah, the reason for this is because they have the money available right now, they know subconsciouslu they'll be able.to get the money tomorrow too, these reasons and more contribute to their inability to save money, I also see this as sort of motivation, if you don't have enough money that's when you're motivated the most.

Saving is very crucial though, I'm not a fan of saving money before, but after seeing how important it is, and how it can literally save your life, I made it a priority to always have some money with me,.a d make more also to save more.