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In my region, we have higher rates of poverty and most people fail to make regular savings. Probably because they have insufficient funds or unwillingly not interested in making savings. What is your take on that?
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SignUp Now!Of course, especially if you living in a country lacking public welfare.There could be significant reasons one might be sickness, The individual might get sick and the money must be spent prioritising the medicine maintenance that costs a fortune. Another reason is job retrenchment.
That will be the real picture for the individuals who are financially struggling. Savings will never be in their minds, but survival on where to earn money to buy food.Unexpected events as COVID-19 and its consequent lockdown that easily resulting in salary reduction or worst, the loss of one's employment get incompatible with regular savings.
Of course, especially if you living in a country lacking public welfare.
In Latin America and southern Europe is the real picture of the low/middle-class and even the middle-class also. As the bureaucratic and tax laws in these countries are made on purpose to push the middle classes into poverty (to return to a social structure composed of a low percentage of billionaires and the rest bordering on a homeless condition). It looks like the real picture of the States too, due to the frightening costs of health (imagine, that only to call for an ambulance to get to emergency costs between 1500 and 2000 dollars).That will be the real picture for the individuals who are financially struggling. Savings will never be in their minds, but survival on where to earn money to buy food.