The 5 Things That Discourage You From Savings & How to Overcome Them

October was challenging and it came with unexpected expenses. Speak to anyone and they will tell you how difficult it is to save. A few friends I meet confess how guilty they feel when they see my post. They, however, feel challenged to do better.

Anyway, back to my first statement. Unexpected expenses. These weren’t any big expenses, but you know how little expenses can just grow into a pool before you can say ‘savings’!

But these have been household expenses not frivolous expenditure to make me regret my actions. My savings plan towards my wedding is on track. But, with about six months to go, it’s about time to start taking some money out to book vendors before the appointed time. Weddings are expensive in Ghana, aren’t they? Savings will not only enable a successful event, but will also ensure there is enough left for other future expenditures to come.

Saving towards any goal, be it education, a new house, a car, a business, wedding or any project requires commitment and a lot of change towards your behavior.


It’s also easy to give up on a savings goal, especially when the source of income stops or reduces. It is also easy to give up on savings when your source of income increases. How? Because sometimes when one sees an increment in income they increase their wants and expenditures.


They have already created new ‘wants’ for this increment. Then, the desire to save becomes reduced as there is now more focus on the increment and a desire for more things.


I will not give up on my savings journey despite not having a full time job. I work at not having a single income stream; several income streams are what I believe in. If I give up on my savings journey, then what will remain? Living in the now is not an option at the moment or any other moment. Any struggle that we face in life shouldn’t let us give up. Sometimes it’s just to toughen us up and to look forward to reap the benefits of sowing.


A lot of things can discourage you from saving:

·      Living beyond your means

·      Peer pressure

·      Societal pressure

·      Poor savings habit

·      Your excuses


Here are some quotes I found to inspire you on your savings journey:



This is the fifth post in a series of sponsored posts for Barclays Savings Challenge. Follow the discussion on Twitter and Facebook and share your own experience by using #AfricaSaves.

Visit the Barclays website for more information about their savings account. CLICK HERE



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