Cause 1: A Lack of Financial Literacy
Managing money isn’t something we usually learn in school. And if one grew up in a family that lived from paycheck to paycheck, it’s harder to make wise financial decisions as an adult.
How you spend, save, get into debt, and invest depends on you. How other people manage their money is insignificant.
Solution: Understand how personal finance works. The more you learn about money, investing, and wealth, the better you get at managing your own finances.
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The idea is part of this collection:
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How to manage risk
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