Managing money is equally as important as earning money. However, it is not taught at our school or college level. It is also observed people who lack discipline in their life, have a high temperament, suffer from stress & anxiety, don't have a good relationship with spouse/family, struggle with their finances as well in their life.
Some of the obvious reasons for the financial breakdowns are:
- Set no financial goals
- Don't take responsibility
- Always blame others
- Make excuses
- Not feeling good or comfortable with money
- Abuse market, stock, investments, mutual funds, insurance
- No gratitude for what already have
- Don't know how to use a credit card for their benefit
- Can't differentiate between good loan vs bad loan
- Fail to understand the difference in asset & liability
- Don't make and/or follow a budget
- Overspend to impress others
- Don't know the power of investments
- Poor financial habits
- Don't spend on personal development / self-upgrade
- Not organized & disciplined
- Buy luxury & high lifestyle without matching with cash inflow
Saving is a habit, it needs to cultivate since childhood. You should seek the help of a Certified Financial Planner to get your finances better.
Create financial freedom account!
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