Reasons why students don't have saving.

[btaliat]

To be honest, it is the dream of most students to save at least for rainy day, however, there are some instances that are stopping them from having effective saving for themselves. Some of the factors that are militating against the effective saving by the students include the following:

Unbudgeted Plans: most students, especially in Africa, will relate to this. There are some times that the lecturers will ask the students to buy some handouts for some courses even when they don't even have in their plans to buy such a handout. Unfortunately, most lecturers always give a dire consequences for those that not comply by the instructions.

Students loan: unlike their counterpart in the advanced countries, most students in African countries do not have access to to students loan. This has made some to even drop out as their may not be help coming from anywhere.

No work and study plan: except for students that are on part time, it is always difficult to see students that are working and at the same time studying. This has made some students to find it difficult to have any saving for themselves.

Poor background: it is worrisome to know that most students are sponsoring themselves to school.

 

[Augusta]

Some students don't have saving because if their poor background: This is because most students are sponsoring themselves to school.As such the money on them isn't even enough let alone to start saving. Some students go on implusive buying Unbudgeted Plans: most students but things they don't even have in their plans to buy

Some students don't see the need to save so they don't even want to save even the little they have. They are just wasteful and want to live life just for the moment

 

[moonchild]

Saving as a student is incredibly hard especially if you're not on a scholarship and you are the one sponsoring yourself through school, you have to live extremely frugal to be able to save, most of the times school expenses like the purchase of books, study materials are where most students depletes their savings.

Students should explore other ways of generating income so that they'll be able to have some left overs they can save for rainy days , during Ill health or other unexpected occurrences.

Having savings is generally good for everyone not just students even employed professionals alike also.