Why Do Many People Have No Savings?

[cherry123]

First they earn low so such people don't have savings because they hardly have any sustainable jobs to make good money. Another is high bill they have to pay daily

 

[Starmix]

Many people do not have savings maybe because their income is too small good only for consumptions. Or its not on their plan because they're still young to save which is wrong.

 

[relcap23]

The interest rates on savings is very low that people are discouraged to save in the banks, and would rather invest the money in some business. I would also prefer putting my money in a cooperative that gives at least six percent dividend than 1.percent at the bank.

 

[Starmix]

The interest rates on savings is very low that people are discouraged to save in the banks, and would rather invest the money in some business. I would also prefer putting my money in a cooperative that gives at least six percent dividend than 1.percent at the bank.

Agree with you, that's why I transfered my savings to a cooperative private and the coop in our university. Every year my dividend is increasing than in the bank. That's the reason why others don't save in the bank.

 

[Bisolami]

Even though saving is a simple and easy matter, it is difficult to implement, because I have met many people who have income above the minimum wage, do not have savings, their salary runs out every month, and many of them even have debts at stalls or other places. Sometimes I wonder, they also know the importance of saving and investing, but why don't they implement it in their daily lives, of course there are so many reasons for them, why don't they save?

Many people do not have savings because they spend recklessly and some people do not have savings because they are not making enough money

 

[Chibson]

One of the major reason a lot of people do not have savings is because they do not make enough money. Some people do not have good money management strategy.

 

[uptrendfinancialsignal]

The hardship will never allow you to have savings sometimes.

 

[Yohanna]

So many people have many savings because they are afraid of a bank liquidating.

 

[Stardom22]

Leave alone people not being in a position to have some savings, there are so many people in my country that can't afford to buy food. This is caused by unemployment which eventually cause many people to be so broke.

 

[Sanjeev]

Unseen expenses and less salary are the major reasons why people aren't able to save money at the rate they should.

 

[eldavis]

I have actually come across a lot of persons that do not save as well, when you ask them, they tell you what they have is not enough to save, but the truth of the matter is that you do not need to have enough before you start saving.

 

[IB D]

Savings might be an easy and simple matter to the original poster. It is a very complex thing for people with low income which their expenses is higher. At this level, it takes discipline to save at this point.

 

[Stardom22]

I think this is because of the bad economic climate that is evident on the whole world for now. With that being said, most people are broke and lacks for the money to afford food leave alone savings.

 

[Reedex]

A record number of people who do not have savings and it is very bad idea because savings could be a passive income source as well.

 

[Stardom22]

Saving can be very important thing for everyone to have on earth. However there are people like me that would like it so much but still can't afford it due to the economic constraints.

 

[Yohanna]

The economic situation in most of the countries would not allow you to have some savings.

 

[Stardom22]

You are very true in this my friend. The economic climate is not favourable in most developing countries especially in my country Kenya. Most people would not even afford three meals in a day leave alone to make savings.

 

[Tampa-girl7]

Even though saving is a simple and easy matter, it is difficult to implement, because I have met many people who have income above the minimum wage, do not have savings, their salary runs out every month, and many of them even have debts at stalls or other places. Sometimes I wonder, they also know the importance of saving and investing, but why don't they implement it in their daily lives, of course there are so many reasons for them, why don't they save?

It’s smart to have an emergency savings and for the future.

 

[Stardom22]

I am telling you that it's very great ideas to have your personal savings. These savings are very important as they can salvage your in times of emergencies and some tough economic situations.

 

[flower]

The major reasons why people do not have savings right now is because of the hardship.