Do you have issues with personal finance? Watch this video on how to solve nine common problems people face with their finances.

1. 9 Solutions to Crippling
Personal Finance Issues
BY: ERICA HILL

2. Living Paycheck to Paycheck
According to Angela Johnson of CNN Money, “Roughly three-
quarters, [or 76%,] of Americans are living paycheck-to-
paycheck, with little to no emergency savings,” for things such as
job losses or medical emergencies.

3. Solution
These types of negative situations can be avoided with some
basic financial management tools, such as budgeting and
investing, which I will speak more on later.

4. Having Too Much Debt
Erika Rawes from USA Today states, “The
average household's credit card debt exceeds
$7,000, according to Nerd Wallet.”

5. Face Solution
For people with any credit
card debt, it is important to
live by this rule, “Do not
spend money that you do
not have.”

6. Having No Budget
to Work Off Of
Budgeting can be overwhelming
for people, as it takes a lot of
time and thought to create a
successful one.

7. Solution
Take a look at these budgeting softwares or
these apps for you smartphone.

8. Poorly Investing
and Overspending
People have a difficult time
living according to a budget.
When using a credit or debit
card, it is easier to overspend
than when you are using cold
hard cash.

9. Solution
It is important to get the assistance of someone you can trust
to help you make purchasing and investing choices moving
forward if changing your habits is not your strong suit.

10. Focusing Too Heavily
on the Present
“According to a Federal Reserve survey release from earlier this
year, ‘Thirty-one percent of non-retired respondents reported
having no retirement savings or pension, including 19% of those
ages 55 to 64,’” and 40% said not saving was their most
monumental financial issue."

11. Solution
Make a budget that you can save and spend with. Invest so
that you can amass more money than you originally earned.
Find out more information here on that topic.

12. Families/Partners
Don’t Discuss Income
and Expenses
When expectations from each
family member is not set by
facts, one can lack the
knowledge necessary to make
financially safe purchases and
investments.

13. Solution
Having a monthly or even bi-weekly meeting about all profits
and losses within a family unit or partnership can keep
everyone from making poor financial choices.

14. Face Emergencies Aren't
Planned For
If someone who earns any
money for the home suddenly
goes on disability or passes,
this can very heavily impact
the stability and financial
safety of a home.

15. Solution
It is important to go over life
insurance and disability
resources you have at the
company you work for before
emergencies happen.

16. Children Aren’t Trained to
Understand Finances
A CHILD’S ABILITY TO LEARN IS LIKE A SPONGE SOAKING UP
WATER. IT IS IMPORTANT TO TEACH CHILDREN EARLY ON HOW TO
MANAGE MONEY.

17. Solution
There are piggy banks that split
the jar into four categories of
money management. These can
help children to learn basic
financial wisdom at a young age.
SAVE
SPEND
DONATE
INVEST

18. Poorly Used
Benefits
Oftentimes, companies have
an array of different benefits
available for employees.
These can include things
such as commuter financial
assistance, free books and
lectures, and free tickets to
certain entertainment
venues.

19. Solution
Go to your Human Resource Director and ask him/her to explain
the entirety of the benefits available to you that are not easily
seen at first glance.

20. Thank you!
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