The following are some of the common problems faced by people, corporations and governments everywhere. Financial intelligence is able to solve these money problems and restore the freedom and pride of the people.
1. Children who grow up not knowing the value of money and the importance of saving and living a frugal life. These problems will result in poor money habits later in life.
2. School leavers who over-spend money given by parents or from employment, ending up heavily in debt or facing bankruptcy. Poor saving and spending habits will have long-lasting adverse effects on their life. For example, their poor credit rating will prevent them from getting a loan to buy a house.
3. Entrepreneurs becoming part of the statistics of businesses that close shop within the first five years of operation. Statistics from various countries put the figure between 65% and 90%. Business failures result in a lot of stress for the entrepreneur and may result in things like hypertension and depression, or even suicide. It also results in a great loss of productivity for the country amounting to billions of dollars each year.
4. The poor and middle-class who have little or no savings in their banks to cater for rainy days. Statistics in Malaysia show that three out of four citizens have less than RM1,000 in their bank account. This may become a serious problem for some citizens who need cash urgently. They will be stressed and may get into health problems mentioned earlier.
5. Sports and entertainment celebrities who have poor money management skills may get into debt, get cheated or scammed of their wealth. Many celebrities have ended up bankrupt due to poor money management.
6. Retirees who are not financially intelligent have been cheated and scammed of their hard-earned wealth. These crimes are on the rise and more people are becoming victims everyday.
7. Rich people have problems with succession and distribution of wealth to their beneficiaries. This has often resulted in court battles among family members, and eventually the destruction of wealth when it is passed to less skillful stewards of wealth and businesses.
8. Business corporations go under whenever there is financial turmoil resulting in market crashes involving properties, stocks, currencies and other commodities and financial derivatives.
9. Governments have gone bankrupt due to bad governance. Usually corruption is involved, resulting in high national debt and depreciation of their currency.
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