There may be several reasons why adults have money-management problems. The lack of knowledge on how to deal with these problems can be one of the biggest causes of why so many families, generation after generation, continue to suffer financially. But, with regard to your lack of knowledge in dealing with money-management issues, it may not be totally your fault.
Remember back in high school when you were learning calculus, art and science? There wasn't a class in money management. Unless you are in the calculus, art or science field, how many times do you need those subjects to make it from day to day? Probably none. So, it really isn't your fault that you were never formally taught how to manage your money effectively. So how did you learn to effectively manage money? You either had to teach yourself, or you inadvertently learned from your parents (whether their ways of managing money were good or bad), or you just never really learned.
What if schools had a money-management requirement? These courses wouldn't necessarily have to teach students how to be frugal, but simply how to manage their money effectively. Perhaps the courses could include a semester-long project with the curriculum entailing detailed money-management scenarios and problem-solving techniques. How well the student does in the course would depend on how effective he became at handling his finances. This type of course could prove to be the lesson of a lifetime.
Getting back to real life - if you have children, then understand that they are less likely to take these types of courses in financial responsibility within the school environment we have today because most schools don't offer them. But, you can make sure your children learn this information, in addition to other subjects, at home. There is only one catch - you have to develop a solid grasp on effective lifelong, money-management techniques yourself and put them into practice before you can effectively teach your children - or others.
Do you regret any past mistakes you make financially? Your not alone. We all have some regrets about how we made use of money in the past. If you have never had regrets regarding any of your past decisions handling money, then you are a rarity. Not too many people can say that. Just because some of us have made mistakes in the past, doesn't mean we have to continue making them.
Here are some suggestions on how to minimize the number of money-management mistakes you make in the future:
1. First, learn from your own, as well as others' mistakes.
2. Second, don't repeat a mistake - yours or someone else's.
3. Third, learn not only from your errors, but from past successes you and others have had with money.
4. Finally, when you've made a good decision regarding money, cherish it and share it with someone else.
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