Financial Problems & Consequences
To become an effective advocate, it’s important for you to be well-versed in the problems people can experience if they lack capability to make qualified financial decisions. There is a vast array of such problems and they can be severe. Understanding this information will help you better communicate with others about the need for financial competence.
In This Section We Will Cover
Severity of Consequences
Lack of financial knowledge has severe consequences for many people. Financial problems are a core issue for many people – having profound impact on their relationships, emotional states, and enjoyment of life. Money issues have been consistently ranked as the top stressor in people’s lives.
Impact on Loved Ones
The impact of financial problems is not limited to the individual – a person’s financial problems often affect the lives of that person’s family, peers, and loved ones. The consequences of financial issues can range from missing out on good times with friends, to family arguments, to divorce.