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Money Matters - The Main Causes of Financial Difficulties |

Money Matters – Basic Causes Of Financial Difficulties

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Most people have problems with finances, but they just don’t know why.

According to the latest surveys, over one-half of all families in America are presently experiencing financial difficulties.  And the real truth is many do not seem to know why they are having these difficulties.  If these type problems are so common, then it would be important to understand the reasons they exist.

The following is a listing of some reasons of financial difficulties.  This listing can be a means of educating oneself in these most critical areas.

  1. Failure to follow scriptural principles.  The Bible is full of guidelines regarding financial principles.  In fact, one half of all parables and one out of six verses in the New Testament deal with stewardship.  Get the Bible and start an in-depth study of the guidelines and principles in the Word of God.
  2. Failure to identify priorities.  A person and family must identify their priorities if they are ever going to be successful in their financial life.
  3. Failure to discipline.  This horrible word causes people more problems than anything else in the world.  Discipline must be exercised in every phase of a person’s life and in the world of finances it is critical.
  4. Failure to establish goals.  A person who has no goal is a person without direction.  A person without direction is going nowhere.  A person must establish the financial goal for themselves if they ever want to arrive at a successful financial position in life.
  5. Failure to control spending.  A written control is necessary to control impulsive spending.  Limits must be established and kept.
  6. Failure to establish a budget.  A budget is not a nervous breakdown on paper.  It is a clear guideline of where your money comes from and where it goes.  Do not negate the importance of a written budget…it is vital to anyone’s financial success.
  7. Failure to identify needs vs. wants.  Everyone has desires.  However, no one can allow desire to override the basic needs.  A person must identify what is really necessary and then control impulses to over spend.  To be successful you must identify your needs in order to be aware of how to spend money wisely.
  8. Failure to adjust lifestyles.  We live in a society that promotes spending and maintain a lifestyle that may not be conducive to their income.  A person must adjust their lifestyle to live within their financial means.
  9. Failure to resist credit buying.  It is too easy to get a credit card today.  It is must more difficult to pay off that credit card balance when a person has abused the card.  Limits must be established to control spending and stay within reasonable limits of credit card purchases.
  10. Failure to recognize the wrong counsel.  A person can get any type advice anywhere, anytime.  But the secret is getting the correct and competent counsel from those who know what is best.
  11. Failure to be accountable to God.  Too many are guilt of thinking that God is not concerned with their finances.  God made you a manager of your possession.  You are responsible for managing your finances
  12. Failure to save.  There will always be emergencies in life, and most of the time they will occur when you least expect them.  For that reason, a person must establish disciplines in their financial life in order to save for the future.

     These are only a few of the reasons people have difficulties in their personal financial lives.  It is highly important that a person, a family, or a business establish proper guidelines to insure financial stability.   One of the best guidelines for financial stability is to have a written plan that gives proper direction for the income and outgo of finances.  In the financial world, it is called a budget. 

  You can learn more about the importance of tithing & giving at

Aubrey L. Jayroe is an Accredited Tax Advisor; Accredited Tax Preparer; Licensed to Practice before the Internal Revenue Service; Certified Tax Return Preparer

For 40 years, Jayroe & Company has been providing quality, personalized financial guidance to churches, local individuals and businesses. Jayroe & Company’s expertise ranges from basic tax management and recordkeeping services to more in-depth services such as reviews, financial statements, and financial planning.


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