Why Do Many People Have No Savings?

[Rubz]

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.

 

[timewo]

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]

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]

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]

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]

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]

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]

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.

 

[bestwriter]

The saving habit should start from the day one gets their first salary Sadly that is not how many get into the habit of saving

 

[Sanjeev]

I still say that less earnings and high expenditures are the two major reasons why people don't save money for their future.

 

[emira]

well as the saying goes u can not give what you do not have
how do u expect one to save what he /she doesn't have

 

[King Belieal]

Many people are struggling to save because of the ravaging inflation. Their income hardly even meets their needs, not to talk of savings.

 

[Sanjeev]

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.

 

[Starmix]

We can't blame the people having no savings, we never know the struggles in their lives. They need time to do it.

 

[riberet19]

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]

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.

 

[Etini Willie]

So many people don't have savings because Thier income is very low. And some people too, they have a very large family and spend so much to cater for them.

 

[Smalto]

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]

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.

 

[Fidelia]

In my country now, many people are just working and hustling to eat food because that is what their pay can barely afford.