5 Top Reasons Why People Face Obstacles in Handling Money

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Handling money is very challenging. Strange, the more we make, the more we spend. It is not a walk in the park most especially if you are targeting to raise an amount to secure a good future. It entails a lot of hard work and perseverance.

Encountering obstacles along the way is normal. However, there are also self-inflicted obstacles that could have been avoided if we went the extra mile. Very often, the key to our success lies in our own efforts and the amount of work we are willing to put in so that we can achieve our goals.

Here are the reasons why we tend to face obstacles in handling money:

1. LIVING FOR TODAY
Living only for today without having a strong consideration for what lies ahead can be very detrimental to our goal to be financially healthy in the future. Everything that we do and
decide on at present has a significant impact on our future.

The “bahala na” attitude is a very basic example of a Filipino trait that often gets us into trouble. We focus too much on surviving today that we do not make concrete plans on how we can secure our future.

2. SPENDING MORE THAN WHAT WE CAN AFFORD

The saying, “Live within your means” is best understood when put into action. Quite often, we are tempted to spend on something we do not really need. In fact, some of us incur debts simply because we are trying to live a lifestyle that we cannot afford. This is a clear sign that we are mishandling our money.

3. INDISCRIMINATE USE OF CREDIT CARDS

Credit cards, when not used responsibly, can generate more problems than we care to anticipate. If we do not have the necessary DISCIPLINE, we will most likely fall into the trap of spending using our credits cards beyond our capacity to pay.

4. MAKING BAD FINANCIAL DECISIONS

Everybody makes bad financial decisions in life. It is normal. However, if we keep on making the same mistakes because we failed to learn from the past, this becomes a clear deterrent to our growth financially.

5. WRONG ATTITUDE ABOUT MONEY

We need to have a healthy concept of money or else we will never be able to achieve success when it comes to financial management. It always pays to learn from those who came before us and avoid the same mistakes that they did.

THINK. REFLECT. APPLY.
What are some obstacles you are facing when it comes to handling money?
Are you willing to work hard in order to be better at handling money?
What can you do to avoid these obstacles?

Making important sacrifices today means a brighter tomorrow.

If you are serious in getting out of financial stress, please read my book “Diary of A Pulubi”. It is now the number 1 best-selling book at NATIONAL BOOKSTORE. For more info please visit this https://chinkeetan.com/pulubi

(Chinkee Tan is a top Filipino motivational speaker, wealth and life coach whose goal is to inform, educate, motivate, and disturb. His vision is to help people become financially-literate and debt-free. For more info about Chinkee Tan, please visit his fan page at FB, Twitter and Instagram. Also follow VIBER PUBLIC CHAT GROUP search chinkee tan, and VISIONCHINKEE on You Tube for more news and encouragements.

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