People lack the concept of savings

[Penlex_Writer]

Do you think nowadays people seems to be less interested in saving their part of income for the future needs?

Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.

savings is all about self discipline,if you do not have that self discipline you can't save,savings is very important,it's help you to meet up unplanned emergency time to come.

[bitterguy28]

Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings.

well you have kids who are easily influenced by trends to thank for that sometimes even adults are easily influenced by trends sometimes they do not even realize that they are just now doing overconsumption and buying things they will use once or twice then never again

[DragonF]

savings is all about self discipline,if you do not have that self discipline you can't save,savings is very important,it's help you to meet up unplanned emergency time to come.

Absolute, people plan to save but fail to do so due to lack of discipline. Controlling money is not easy. There is always a desire to spend whenever there is money, and everything appears fascinating at that point, so without a high level of discipline, the money will be spent on trivialities, and when the time comes to spend on things which are important especially in emergency cases as you said, there will be no money, leaving the individual with regret.

There are mobile apps that can help people save money, and those who find it difficult to save money can use any of these genuine apps. These apps work in such a way that a certain amount is deducted from the account based on how the individual programmed it, and the person does not have access to the funds until the time he has set. This can help the individual stay disciplined with his savings.

[Findingnemo]

it's help you to meet up unplanned emergency time to come.

Not just your future emergency, it is going to be the deciding factor of your upcoming generations too, people who became rich certainly has the privilege to access good capital that is a big thing and many people are struggling without it. So think about the foreseeable future, it's not just about you but many upcoming generation's fate depends on how we spend our money today.

[0t3p0t]

Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings.

well you have kids who are easily influenced by trends to thank for that sometimes even adults are easily influenced by trends sometimes they do not even realize that they are just now doing overconsumption and buying things they will use once or twice then never again

Absolutely. Social media really has influenced most of us what we saw add to cart haha Overspending is the result of this if we do not have discipline because we don't even have to think if things we like is what we really need or it's just our wants that we can't resist sometimes but I already have learned from my past mistakes that is why I now prioritize my needs then save extra money and sometimes I invest it.

[Agbe]

Do you think nowadays people seems to be less interested in saving their part of income for the future needs?

Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.

Saving is one thing that is good and necessary going forward as there maybe emergency situations in such cases what most people revert back to is the saving that they have but the fact is that saving is something that don't create wealth going forward so now a days people now prioritize investment instead of savings because investment is one thing that creates and bring back value for your money instead of keeping your money domant in the bank or in that saving box at home it will be more better that you put your money into a business that will be bringing in something at the end of the day

[electronicash]

the people in my country are so fond of saving money in a piggy bank. that there are demands for piggy bank actually and i used to have one when i was a kid. and so was my mom,  savings only help her every time she needs to buy something because we need it. she spend the money she saved because our roof are rotten and rain water goes inside the house. or our cows got sick.

saving money didn't make her rich in the end.  what is needed to be taught to the people is to save and build a business.

[rachael9385]

In this present days, saving is not an easy task at all now I wonder in the past our parents used to save their money in a box and at the end of the day they use it for something tangible that's how they save cause then there weren't any banks. But now the same money and the same amount they save to build houses if you have it now it's just for peanuts. The economy situation affects successful saving. There are many things that can hinder savings currently it only takes the grace of God to save successfully.

[Chilwell]

In this present days, saving is not an easy task at all now I wonder in the past our parents used to save their money in a box and at the end of the day they use it for something tangible that's how they save cause then there weren't any banks. But now the same money and the same amount they save to build houses if you have it now it's just for peanuts. The economy situation affects successful saving. There are many things that can hinder savings currently it only takes the grace of God to save successfully.

In the past, saving money was relatively easier because people had fewer financial obligations and the little they saved could go a long way. A modest amount of savings could help them achieve significant goals, such as buying a car or building a house. However,times have changed. The value of money has decreased, and problems have escalated. We are faced with rising inflation, increasing costs of commodities, and growing insecurities. Our money doesn't go as far as it used to, making it challenging to meet our end needs.

While saving remains important for future security and various aspects of life, it is becoming increasingly difficult.As the saying goes, "How can you save for the future when you're struggling to survive the present" The pressure to make ends meet can lead to further financial strain, making it even harder to save. So, how can we save money when we barely have enough to cover our essential expenses, won't this make our financial problems even more worse.

[Rruchi man]

Do you think nowadays people seems to be less interested in saving their part of income for the future needs?

The reduced interest in saving and investment is due to the increased rate of financial indiscipline. We have more people becoming more financially indisciplined simply because financial discipline or any financial regulated subjects are not treated in the curriculum of students who are young and growing into the world. I think there should be a lot of importance placed on practical knowledge concerning life because then it will be very helpful.

[joniboini]

We have more people becoming more financially indisciplined simply because financial discipline or any financial regulated subjects are not treated in the curriculum of students who are young and growing into the world.

I don't recall having one lesson dedicated to that when I was in high school either. I'm not sure how effective it will be when educational institutions can't control factors like living conditions that encourage reckless behavior more for their students either. I do agree that it's not a bad idea to have a seminar or education about it though, but the bigger factor is probably the environment, parental guidance, and healthy living conditions. It's hard to talk about saving for people who can't eat regularly for example.

But as I said earlier on this thread, I think there's also a trend of people becoming more interested in medium-risk investment because they realize that everything is more expensive nowadays. Not to mention inflation hits hard, at least that's what happened in the computer industry. Buying a GPU feels like buying a car in my country right now.

[debra]

Do you think nowadays people seems to be less interested in saving their part of income for the future needs?

I think people still have the intention to have savings for the future. However, it is getting difficult because of the price increase of goods and services. People get difficulties to get side incomes, but the price change of goods and services are happening more often. As the result, people have no money for savings.

Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.

People may be aware of the life changes. But sometimes they have no choice to deal with the changes. We can't generalize the condition of each person, many of the people have a very poor financial stability. In this condition, they have no chance to think about savings.

[bitterguy28]

Do you think nowadays people seems to be less interested in saving their part of income for the future needs?

I think people still have the intention to have savings for the future. However, it is getting difficult because of the price increase of goods and services. People get difficulties to get side incomes, but the price change of goods and services are happening more often. As the result, people have no money for savings.

that is a good point and a very valid one nowadays it seems like just one source of income is no longer enough for us to pay all of our bills and our expenses and if you are someone who can't budget well you will certainly find yourself with no savings actually even if you cut short your expenses it is still almost impossible to save huge amounts unless you are earning huge amounts with just one source of income

this is why investments are such an important part of our life and making sure that we stay afloat despite economic downturns

[DragonF]

that is a good point and a very valid one nowadays it seems like just one source of income is no longer enough for us to pay all of our bills and our expenses and if you are someone who can't budget well you will certainly find yourself with no savings actually even if you cut short your expenses it is still almost impossible to save huge amounts unless you are earning huge amounts with just one source of income

this is why investments are such an important part of our life and making sure that we stay afloat despite economic downturns

Savings are only possible once bills have been paid. As you mentioned, income is no longer enough, making it difficult for people to save. It will be unreasonable for someone to save money when they have bills to pay. Consider someone who refuses to eat or attend medical appointments in order to save money.

The savings will not be worthwhile because a person must prioritize his well-being before saving, and denying himself basic necessities of life in order to save money is a huge mistake. As the saying goes, health is wealth, and this also applies to saving; you must be healthy in order to save money. 

[Findingnemo]

People may be aware of the life changes. But sometimes they have no choice to deal with the changes. We can't generalize the condition of each person, many of the people have a very poor financial stability. In this condition, they have no chance to think about savings.

Valid point, I am not criticizing those people who is struggling to meet their ends but the others who are living comfortably by spending all their salary into their needs and wants without thinking about the near future. It's obvious that they are influenced by many things to buy fancy clothes, expensive household items when they can buy similar at cheaper price with different brand name.