Why many individuals in rural areas are not saving.

[TOZZIBLINKZ]

sometimes our ability to save money could be influenced in the environment or environmental situation we find ourselves . In other words the environmental condition of a place in which we reside or live could affect our ability to save money , that is what is seen in a case of individuals living in rural areas . By definition a rural area is an area with low modernization and technology and in fact people are still using crude means and mediums to earn a living and most importantly their earnings are of minimal value . Individuals living in rural areas are known for living their respective lives from hand to mouth . In other words the earnings that they earn for a day would be used and spent for the same day and so there is no room for saving for future activities and purposes .

It is understandable why people do not save in rural areas , but one thing we must understand is that time and unforeseen occurrences befell each and every one of us , and so whether we are living in urban areas or rural areas we are all subjects and victims to unforeseen occurrences and circumstances that are more likely to take place seriously in the future . And to be able to handle and harness this unforeseen circumstances and occurrences we need to be financially equipped so as not to be disappointed and devastated . In conclusion , you must not let the environment in which you find yourself to stop you from saving money because the benefits of saving money is very important and can affect you from time to time .

 

[Augusta]

The funny part of it is that they are not buying anything as much as those in the urban centers but they still have no savings.

I'm writing this from experience, I see my relatives in the village always looking haggard and hungry without savings. But these are people that are still hustling as bd making money sometimes even more than people in the town but they are most times the most wretched.
I just believe this is just a mindset of them believing that they are in the village as such a lot of things don't apply to them. Because this is the only way you can explain this problem. Someone in the city with good amount of responsibility will live and still save to help those in the village. You see it isn't about the the person environment but the person involved. Saving is a thong of the mind it wouldn't work untol such mindset is chsnged

 

[eldavis]

You have a point there though but I believe things are changing when it comes rural areas. Development have started moving into mist rural areas, and there is the fact that most of these rural dwellers have started moving out from place to place gaining exposure. You might even be surprised most of them know more than some persons from urban areas.

 

[btaliat]

I won't be too quick to accept that people in the rural area dont save. I have yet to seen any study or research that substantiate the notion. People that live in the rural area are also human being like those that live in the urban area. And I believe they are being faced with the same situations.

However, I may slightly agree that there may be low saving rate among those that live in the rural area for some reasons. Some of the reasons may because there are more available things in the rural areas compare to the urban area. For instance, there are foods available in the rural area which will reduce the rate at which saving will be done in the rural area.

Most people living in rural life tends to live a simple life and do not make themselves bothered by some things that do the people that do live in the urban area. They are not concerned about the buzzing of life. They don't know what crypto is all about neither do they feel concern to be buying big vehicles. They only want to eat, sleep and have shelter. This has reduced their saving lifestyle.

 

[Ithedicious]

What you are saying might be true, Because rural areas as I understand is the areas that people who are living there are engaging in the rural activities to make money.

Not really that some of them are not interested to save money, but I believe maybe they're not really making enough money to help them to have a good saving plan , maybe that is just the reasons.

There is no companies or reasonable companies out there that could really employ people in the settlement for them to have a good saving plan .

I don't really think they might be able to have so much interest to saved when they are not even making enough.

Not only about the rural settlement , but I think this is applicable to everybody and to all location because a situation in which you are not earning up to the amount of money that can really help you to have some savings, it may be quite difficult for you to save some money in such a situation.

I believe everyone understand the function of saving but location and the amount of money each and every individual is earning determine if they are to save or not.

 

[Jasz]

Many individuals in rural areas are not saving because they have a hard time making enough money. Most Farmers do not make a lot of money. They can only work during the summer months in the north and during the winter months in the south. They have a short growing season and that means that they do not make enough money to save.

Another reason is that many individuals in rural areas are retired. Retirees do not make any income or very little income and therefore, they cannot save money.

A third reason why many individuals in rural areas are not saving is that they do not need to save for retirement. They will move out to another comfortable location and live with family members when they retire. The cost of living is less expensive there and therefore, they do not need to save for retirement.

In rural areas, they might be exposed to different kinds if diseases. They may not even have access to doctors or good hospitals, not to talk of how to pay up. They also lack social amenities, they purchase this things they should get freely to survive, thereby leaving them with little or nothing to save at the end.

 

[Shigobad2020]

I have onced lived in a rural area environments , my fathers village farm to be precise and i can tell you that almost 80% of the farmers are stinkingly rich because they normally saves money during their harvesting season .

Though some of them don't prefer saving because of many reason , firstly they thinks they dont like the things people in the urban area buys because its not useful innthe village and some of them dont also send their children to study in school.

They prefer spending everything they have that season because they knows they are going to make another set of income the following cropping season, so they don't see a reason why they should be saving when the money is coming steady every year.
They have food at abundance at their care , so there is no reasin for saving up to go to the to buy foodstuffs.