I get the opportunity to travel and speak to different groups of people, in different phrases of life, with different financial struggles. However, they all of one thing in common: they all want to win with their money. The unfortunate reality is that there are a lot of people who aren’t winning with their finances. It can be frustrating and overwhelming. The GOOD NEWS is that you can win with your money. You can become debt free! You can start living your fully funded life.
Here is the list of the top reasons (in no particular order) I see that people aren’t winning with their money. If you currently aren’t winning with your money, read the list below to see if any of these apply to you.
- Unwilling to admit there is a problem
- Inability to say NO (to themselves, spouse, and/or children)
- Shiny Stuff Syndrome
- Lack of financial education
- Spouses not working together
- Lack of giving (rarely do I see selfish people truly win with their money)
- No savings (it is impossible to win financially if you do not save)
- Unwilling to take risk with any investments
- Listening to the wrong (and broke) people
- Impulsive spending decisions
- Failure to carry health and disability insurance
- Unwilling to work for it
Would you add any additional reasons to this list?