What Are the Common Barriers That Prevent People from Saving Regularly?

[Suba]

Although young people are highly productive, they have a high rate of difficulty saving. They naturally have many different reasons. To solve the problem of difficulty saving regularly, we must understand the root cause, or the underlying issue that is causing someone's difficulty saving regularly. Once someone understands the barriers that prevent them from saving, it will be easier for them to overcome their problems or obstacles.

 

[Springtime]

Some people cannot save because they do not have regular and stable income, some just overspend and do not save, some just do not earn enough to have spare money to save.

 

[Starmix]

Not all are lucky, so not all can save. Those whose salaries are just enough and sometimes not enough for the daily needs never have in mind to save. They can only save once they try to ride on with the time investing in something that augments to their daily needs.

 

[Augusta]

Lack of measurable savings goal. Paying more on student loans than necessary.

 

[Stardom22]

The main reasons are that money is limited to in supply and whenever one gets money it's not enough to cater for the expenses that one expects.
Too much debt also create obstacles to not saving money regularly for sure.

 

[eLdavis]

One major barrier stopping people from saving is the issue of unexpected expenses. There are times where several unexpected expenses might arise that would stop you from saving how you should.

 

[kit_hung]

Without knowing the root cause of the problem, solutions are hard to come by. Many young people are hardworking, but saving is still a challenge. There are many underlying reasons, such as the cost of living, spending pressures, and lack of financial literacy.

Knowing what exactly is stopping someone from saving is an important first step. Some people find their income insufficient, others live in a fast-paced lifestyle. If you identify and understand your personal barriers, you can start to change your behavior little by little.

Setting small savings goals and using simple methods like a weekly budget is a good start. Saving is not just for the wealthy, it is for anyone who wants to build themselves up. Every small step makes a big difference later.

 

[Min George]

I think it is more of lack of self control that prevents people from saving. Self control and intentionality makes savings easier.