Saving Money What motivates you to save money?

[Bookwormlux]

We all know of the fact that saving money is something that requires a very high sense of discipline , and it can be discouraging at times , especially if you consider the fact that you are not really making so much money but to talk of consider to remove part of it as savings

A lot of situation has cause me to realise that if only I had so much money in me or saved somewhere , I would have been able to solve my problem in such situations .

This is the major motivation factor that has made me to make up my mind to make sure I save as much money as I can do so as not to end up in such similar situations in the future.

I have also being motivated towards saving money because I am working towards another project of making money online , and it requires some little capital which I will be needing that is why I am always making sure I save money so as to not get stranded at all .

Another factor that motivates me to save money is due to the fact that my country is in a situation whereby there are so many uncertainties, and you do not know what may really come up in the future , that is why I have to save some money so that I can even sustain myself no matter how much just certain things are.

I know some people who are saving money towards traveling out of our country to some other countries where they believe life will be much more easier there than our country .

How about you , what is your motivation to saving money?

 

[Kendy]

The harsh economic realities is enough motivation to make me cultivate the habit of saving money. I am plunged with so many responsibilities. I have to make money for myself because I have no one to depend on. Even while I was in college, I was self-sponsored till I finished and I sustained myself with some menial jobs and sales. The state of the economy is appalling and I decided to save because my basic needs are dependant on it. I have a yearly house rent of about $250 to pay, electricity bill has been piled up for me to pay despite the incessant lack of power supply, monthly contribution for the security agents in my location, feeding, transport fare are all the reason I have to save.


There are some months I am not able to save anything because my budget supersedes my income, so it is either I work harder the following month, or I deprive myself of some necessities. The act of saving money is now a way of life and so far, because of this determination to inculcate the habit of saving money, I have not run into debts and i do not have any cause to exceed my saving capacity so I do not put myself in a very tight condition.

 

[Sotherefore]

Well most of the times I do I don't really have a motivation or things that really push me to do it , but what I do is that I consider certain things such as the future , the old age and some other things like that and these are the things that really help me to save money and probably I am also saving money to start up the type of business I am interested. .

I may be able to save money now perfectly base on my own motivation which is the future needs of the money and sometimes these future need can be unknown , a lot of people at the same time do not just see the need to save money and as a result of this there might be spending their money extravagantly without even considering the future . obviously this is not the best.

Saving money is necessary in everyone's life and sometimes if we are not able to organise and save money or invest our money for future purposes we may not likely be able to do anything such as building of houses, establishing of business. Some people will rather invest instead of saving and that's what I do.

 

[Rachael]

The first time I cultivated the habit of saving money I had a terrible experience which made me run into frequent debts and I realized that if I had savings, I would have boycotted such situations. In my country, the economy is so stale and I wonder if there is hope for us because of the insensitive leaders we have who comes with a lot of promises but when they assume office, they forget and discard all the promises they made during campaigns into the trash bin. When once the price of fuel is on the high side, it automatically increases the prices of all other goods and services as well as transportation costs.

Without saving, there is a likelihood that I would remain a debtor and that is not good for my life and goals. I am motivated to save money because I have a lot of bills most especially on a monthly basis and the yearly rent to pay. Shelter is one of the basic needs and without fulfilling the payment, I would have to the thrown out into the streets. For me, saving money is very mandatory no matter how little it could be. I cultivate the habit of saving 20% of the total monthly income I accumulate.

 

[Shaf]

I was always bad at saving money till I had a life changing event that saw my family going from grace to grass in a very short period of time. That was one of the things that motivated me to always have a saving for events you may never even have considered.

Another one is working a a health care personnel in a hospital setting. Withmedical insurance in my country not available to over 90% of the population, I've seen peo6lose their lives or dignity simple because they couldn't afford to pay the hospital bills. While it's understandable that some bill come up and may be beyond your capacity, you should always have a means of starting treatment for minor and major illnesses.
To avoid this, I try to have some money saved.

Also, it's not easy to save money without purpose, which is one problem most people face. If you don't have a reason to save money, create one, be it for business, leisure emergencies. When you have enough, try to invest part of it so you can have an income source to help on rainy days.

 

[btaliat]

There are many things that do make me to save money. Just like many other people, I desire a good life and it can only be lived if there is money. There are many things that we may want to get but if there is no money, you may not be able to get those stuffs.

Basically, there are three main motives why I keep money or even run to make money. The first thing is for precautionary motive. This means I do make money just to make sure I prevent bad incidents from happening. Most time, bad things that we don't even anticipate do happen and to find solutions to those stuffs, we need to have much money readily available for such situations.

I do save money again for the fact that I need to do some investments or carry out some projects. This is called for specialtive motive. There is no one that doesn't have something he or she wants to buy in the nearest future. The fact that I want to do this stuff as well make me save money.

Also, I do save money for transactionary motive. This may involve the fact that I may want to buy some stuffs on a daily basis. There is no one that doesn't buy things on a daily basis. So I do save money in order to buy these stufss.

 

[Abigael]

One of the biggest motivations to saving is having a target that you want to use the money for. That is what has been my motivation for a long time now. Whenever I plan to buy something like a phone, I will be so disciplined in my saving.

For some people, that will mean something else they are saving for. Maybe as big as a wedding, a child who is being born soon or even moving to another country. All in all, having a target gives you so much discipline.

Another great motivation to saving is thinking of emergencies that may come in future. Maybe health problems that require immediate medical care or for most older people, death that leads to leaving behind people who still depend on you.

Take for example the emergency that people faced when the Covid 19 pandemic started. Most people were affected so much financially and wished that they had some money saved for such emergencies. This becomes your motivation to future saving.

Lastly, you can be motivated by other people's stories. Maybe you are reading a book or hearing someone talk about how much saving money helped them. That will be a great motivation for you to start saving.

 

[TOZZIBLINKZ]

No one told me or talk to me in the act or ability to save money , rather it was simply because I know the benefits and the advantage that follows the act of saving money , and also what it has on me that makes me to indulge in the saving of money . To be more elaborate ,the reason why I save money which also could be the reason why you also save money is primarily and basically to be able to handle , fund , and sort out unforeseen circumstances and activities that could come up in the future monetarily . majority of people in the world today things that the act of saving money and for only individuals who own and enjoy high prestigious jobs with attractive salaries . Absolutely no , the act of saving is for everyone and whether your income is big or small you must know the reason why you must save which is to handle and sort out future unforeseen circumstances .

Some of these unforseen circumstances that could come up in the future include sickness and illness , paying of uncalled and unexpected bills , entertaining a visitor etc . Most importantly the saving of money would also make us to be able to invest in a particular risk free investment when it shows up .