People lack the concept of savings

[DrBeer]

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.

My opinion is that simply accumulating money “in a piggy bank” is not the right way to go.... But let's start from the other side.)
1. lack of financial literacy and understanding of what is the management of their finances, plays a cruel joke with most people, and it consists in the fact that people start.... “put in the piggy bank”... This means that over time, the value of the money put aside decreases due to the well-known inflation.
2. There is a more correct meaning of “financial cushion”. In the simplest sense - it is a certain amount of money, which in a critical situation, for example, will allow to live normally for some time. According to my concept, this time should be at least 3 years, because situations can be absolutely different. But here it is better to be reinsured and have a reserve for a long period of time.
In my vision, a “financial cushion” is a diversified stock of various, highly liquid assets. A small part - in local currency, to solve issues “here and now”.  Another part - in conditionally stable currencies (dollar, euro, Swiss franc,...) - those currencies that you can always exchange for local currencies anywhere in the world (except for some very specific countries), to meet your current needs. And then it gets more interesting The rest can be “stored” in gold, cryptocurrencies, real estate, shares of large and promising companies. Such a “basket of assets” will allow you to form a “financial cushion” that you can use at any time, and due to diversification - you will have reserves that will be minimally exposed to inflation, and with some probability even multiply savings, due to appreciation.

[Findingnemo]

1. lack of financial literacy and understanding of what is the management of their finances, plays a cruel joke with most people, and it consists in the fact that people start.... “put in the piggy bank”... This means that over time, the value of the money put aside decreases due to the well-known inflation.
2. There is a more correct meaning of “financial cushion”. In the simplest sense - it is a certain amount of money, which in a critical situation, for example, will allow to live normally for some time. According to my concept, this time should be at least 3 years, because situations can be absolutely different. But here it is better to be reinsured and have a reserve for a long period of time.

Understanding finance and money needs deep skills and knowledge but it doesn't mean everyone has to be an expert to start saving and become rich, at least they have to start somewhere even if it's a piggy bank which is kind of baby steps towards teaching the top of a hill. So they need to realize start saving is the key, once they started savings their interest towards money will increase for sure and that's the way to learn about investing, diversification.

[albon]

I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.

[Azharul]

I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.

I am also agree with your prefer comment. Because we know that every people want to savings a best amount for there future time. Because if we can not saving asset in future, then we can be fall in many problem. I am also agree with you, because if we follow in every famous or rich people we can understand important of savings. So if we can saving money for our future, then our old life will be very happy for long time. So obviously we should trying to understand in saving money for future.

[bisdak40]

Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.

[Bozi]

People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings

[0t3p0t]

People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings

Not enough source of income can cause it to slow and being sluggish for those with high paying job it's easy for them but sometimes their spending habits will keep them away from savings. In a tight situation for us who have no stable source of income it's really that hard and might spend what has been saved.

[DragonF]

People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings

It is determined by how much you save, your goal, and the length of the savings period. These are the factors that determine whether or not saving is slow. A person who earns a reasonable amount will save more than someone who earns little.

Savings are only slow when income is low because there will be nothing reasonable left after paying bills, so the little that is saved will be small as well. This is why it will take a long time to make a decent savings.

Savings are also influenced by the amount targeted and the length of time spent saving. Some people make short-term savings, and the amount they want to save is not large, making it easier for them to achieve it regardless of whether their income is large or small.

[albon]

Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.

We can get into great illness at any time so it is important to save money. Also, money is always needed because it requires a lot of money to manage life. From our treatment to food, clothing, everything is needed money. There are many people who make money completely because they want to lead a life of joy in different ways. Those who do not want to save are big mistakes because if you see the money crisis, then you suffer from complications to fulfill it.

[Sim_card]

I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.

Saving is good and those people that are into short-term savings can do that in the bank but for thoss that want to save money for pension or as their retirement funds which involves the future, shouldn't put such money in the bank. It's better that you usw it to buy bitcoin whenever you have the money because fiat depreciates overtime but bitcoin price increases overtime.

[Chilwell]

Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.

We can get into great illness at any time so it is important to save money. Also, money is always needed because it requires a lot of money to manage life. From our treatment to food, clothing, everything is needed money. There are many people who make money completely because they want to lead a life of joy in different ways. Those who do not want to save are big mistakes because if you see the money crisis, then you suffer from complications to fulfill it.

When you have enough money at a time, it is not bad if you live your life to the fullest. Because there is nothing wrong with someone enjoying the fruits of his labor. but if you are living in the present don't forget to think about the future. Because you don't know the difficulties and challenges that you may face in the future. Saving a potions of your resources, income or money for future use is very important, but to whom it may concern. Lavishing your money wouldn't yield a good result if you come across any challenges e.g accident, sickness or any financial problems in future. No one pray to come across any problem or difficulties, but we have to prepare for the uncertainties of life, incase by any chance we come across them.

[JoyMarsha]

Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.

Anyone who chooses to live by the moment will suffer in the long run when the bone and strength are weak. It's better to suffer it now at your youthful age and enjoy your life at old age when others will be struggling to survive to pay their bills and family bills

[bisdak40]

Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.

Anyone who chooses to live by the moment will suffer in the long run when the bone and strength are weak. It's better to suffer it now at your youthful age and enjoy your life at old age when others will be struggling to survive to pay their bills and family bills

Yeah, living just for the moment might feel good now, but when you're old and weak, reality will hit hard. It's better to hustle while you're young so you can relax later, instead of struggling when you should be enjoying life.

[bitbit97]

I think that people not only lack control of savings, but many dont know how to manage their finances. When given a lot of money or suddenly receiving them, all what majority knows what to do is spending them, spending them quickly, spending them on items that will lose in value soon. As some random people what will they do if they get a million. Buy car, gadgets, clothes, maybe a house. They will try to spend all the money in no time, not thinking about future.

[0t3p0t]

I think that people not only lack control of savings, but many dont know how to manage their finances. When given a lot of money or suddenly receiving them, all what majority knows what to do is spending them, spending them quickly, spending them on items that will lose in value soon. As some random people what will they do if they get a million. Buy car, gadgets, clothes, maybe a house. They will try to spend all the money in no time, not thinking about future.

Sad to say that it is true. One day millionaire is a common habit for most people who do not value financial stability and that what really is happening around me right now like my neighbors got a never ending parcels of items they don't even need because it was just their wants. They spend money on gambling, parties, and unimportant travels that which make them spend more of their hard earned money and then the next day you may see posts on social media to beg for mobile load, electronic cash and financial problems which is very funny and one more thing they may send private messages to borrow money. 😅