Despite the advocacy of saving money, why are some people reluctant or inconsistent in saving money?

How can this be addressed?

Some people are reluctant or inconsistent in saving money because of many factors. These factors might
be the reason why they still don’t prioritize saving money. The first factor is vices; smoking and drinking
alcoholic drinks. People who smokes and drinks alcohol would not be willing to save money for they
prioritize their vices. The second factor is addiction to computer games and other media platforms. Most
of the people who are into internet games would not want to save because they only focus and spend
their money in the computer shops. The third factor is prioritizing wants over needs. Most of the people
tend to prioritize their wants especially nowadays where online shopping is rampant. And the last factor
is debts. People with low income would prioritize paying their debts instead of saving money. This
factors can be addressed through spreading awareness to the people that saving money is important as
there are circumstances that we cannot take control and there are times that money is much needed. It
is better to be prepared to avoid bigger problems.

Identify ways on how you can save. Determine how much you can save.

PRACTICAL WAYS OF SAVING

Way of Saving Expected Amount to be Saved

1. Saving water, turning off the faucet 1. 50 pesos per day

while washing the dishes and 2. 50% discount of the usual amount
washing the clothes. 3. 80% discount
2. Buying buy 1 take 1 products 4. 10 pesos back and forth
3. Buying ukay-ukay clothes instead of 5. 100 pesos
expensive ready to wear products.
4. Walking on the way to the store
instead of paying for a pedicab
5. Cooking using the vegetables in the
backyard or garden instead of buying
in the sari-sari store.