Savings Strategies and External Influences Quiz

External influences such as peers, family, or social media can impact personal savings decisions by influencing spending habits, encouraging certain lifestyle choices, and creating social pressure to conform to certain financial behaviors.

Some strategies that can help people manage obstacles to saving include automated savings plans, employer matches, and avoiding personal triggers that may lead to unnecessary spending or impulsive financial decisions.

Examples of external obstacles to saving include societal expectations, peer pressure, family financial habits, and the influence of social media promoting consumerism and materialism.