Sound money management is, for most of us, a goal that we hope to achieve. Unfortunately, it’s also a goal that can take a long time to develop; we have to learn from our past mistakes, constantly amend the way we address certain issues, and update our patterns of behavior as our income and outgoings change throughout our lives.
It’s easy to assume that if a person struggles to maintain well-managed finances, they have simply not placed enough focus on the need for money management. In actuality, this is rarely the case: many people want to achieve good money management – and are willing to go to great lengths to achieve this – but find that their efforts are nevertheless unsuccessful. Below, we’ve put together three reasons this situation can develop, so you know what to look out for when managing your own personal finances.Continue reading