Why Do Many People Have No Savings?

Rubz

Notable
Member
Sep 12, 2022
1,612
15
Dex
$0.000
Raw Dex
$0.008
Currently, i think the reason why people do not save is due to how bad the economy is. Most people barely even earn enough to meet their basics needs and so, they can't save.
 
AgoraForo - Digital Marketplace & Freelancer Forum

timewo

Notable
Member
Jul 30, 2022
2,762
212
Dex
$0.160
Raw Dex
$1.293
It is very difficult for online workers to save money due to widespread government slavery and financial fraud in some countries. The government/intelligence agencies are robbing the data of the online workers and falsely claiming that their employees who do not spend time working are doing the computer work, including forum posting to waste taxpayer money paying employees salaries.
 

Ovy

Complete Stranger
Member
Nov 13, 2023
27
1
Dex
$0.000
Raw Dex
$0.000
People not having savings at times might be because of low income earned, but most people who don't have savings is as a result of their inability to manage funds. Spending more or almost everything you earn is a life that won't allow you to save.
 

Ofonime

Notable
Member
Dec 25, 2022
1,079
18
Dex
$0.009
Raw Dex
$0.210
Some people can't just save money because they can't decipline themselves on this so it's a big task to some folks but it's really beneficial if you can start saving today
 

Starmix

Popular
Member
Sep 2, 2022
29,955
3,693
Dex
$3.000
Raw Dex
$0.189
There are million people who do not have savings. It is simply because they do ot have the right income. Their salary is only good for their daily needs and they never care too despite they can even save some pennies.
 

kirubel

Somewhat Known
Member
Oct 30, 2023
818
36
Dex
$0.000
Raw Dex
$0.000
There are a lots of reason why peoples don't have a saving habit and don save, and some one of the is not getting enough payment from their work that is enough for their food and for their rent payments so if it is not enough for those things then there will be no money to save.
 

Ofonime

Notable
Member
Dec 25, 2022
1,079
18
Dex
$0.009
Raw Dex
$0.210
People lack saving because they lack decipline so I think that if you can't decipline yourself you won't be able to save money,foe me now I believe investment is better than saving and it's going to help me financially in the future
 

Stardom22

Very Familiar
Member
Sep 1, 2022
13,070
565
Dex
$0.000
Raw Dex
$2.246
ln my opinion, most People in my country are really struggling with hard life. This is because there is high levels of unemployment, inflation and higher cost of living which devalues the local currency here.
 

Sanjeev

Well Known
Member
Sep 23, 2022
8,556
1,212
Dex
$0.333
Raw Dex
$0.010
Many people are struggling to save because of the ravaging inflation. Their income hardly even meets their needs, not to talk of savings.
That's the main reason. I don't think there is anyone who doesn't want to save for the future; it's low earnings that don't allow a person to save money.
 

riberet19

Notable
Member
Jan 7, 2023
3,222
346
Dex
$0.000
Raw Dex
$0.920
The cost of living can be one of the reasons, but it is also true that many people live a very frugal life and spend all the money every month without thinking about saving or anything else, that can be another reason for this.
 

You

Notable
Member
May 12, 2023
2,239
41
Dex
$0.000
Raw Dex
$0.008
In my opinion, many people have no savings because they prioritize short-term wants over long-term needs. They may feel pressured to keep up with consumerist culture, spending on things that bring temporary happiness but don't contribute to financial security.
 

Smalto

Notable
Member
Feb 23, 2023
1,305
76
Dex
$0.000
Raw Dex
$0.003
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?
Some of them don't really do it deliberately, sometimes it could be too much financial burden that some of them are carrying, which makes it very difficult to save a reasonable amount of money.
 

Sawe

Somewhat Known
Member
May 14, 2024
714
25
Dex
$5.000
Raw Dex
$0.823
One reason as to why many people do not save is because of low income. But if you are earning well and still not saving, it could be that you are not empowered enough on the importance of saving. Moreover, you may not have the self discipline needed for proper saving.
 
Back
Top