Problems faced while saving

[Paul Abel]

In almost anything you do, you have to face or at one point be faced by a situation that is harsh and challenging. The same applies to saving as there are problems and challenges that one may face financially and in other aspects while trying to Save.

• Inability to take care of all your needs and wants: saving has the ability to deprive you of some enjoyments. If you make a savings plan and decide to strictly adhere to it, then at some point you may meet with some situations that will demand higher amount than what you budget to spend and you may forgo somethings so as to ensure that you are able to save.

• Method of saving: some people want to save but don't know what method to use and some people are using methods of savings that have problems attached to them. For example some people save in unsafe and unsecured platforms which has the potential of risking the loss of funds and leading to one challenge or the other.

• Income source: some people have a fixed income source and once there is a problem with the payment or the person loses such a job, then there will be struggles in maintaining that savings habit.

 

[niche]

People who save money want to get the maximum returns on their investment, so they may choose the wrong company for investing their savings. Sometimes the government may force the company to shut down, and the deposits of the investors are not returned to them or in some cases, the investors are getting less than 30% of the amount they invested in the deposits. So while saving, it is better to do a proper background check for the investment options which are selected.