If you manage your money properly you will experience fewer emergencies and less stress. You will be more prepared for those emergencies that you can't control. You are more likely to live the life you desire of happiness and prosperity.
However, if you have no goals or financial planning in place then exactly what do you expect to experience as a result?
Too many of us are suffering or at least living in an endless cycle struggle borderline poverty.
We are one emergency away from being broke, homeless or living in poverty. (By American Standards at least) I digress....
The good news is that we don't have to stay in this cycle.
Teaching what you know to your kids is also very important so that they can avoid many of the struggles that people experience today from making poor decisions with their money.
The decisions that we make are based on our knowledge base. If we don't have knowledge then we don't make intelligent decisions we just operate on default based on what was modeled to us or picked up along the way.
This means often we don't have a process, goals, accountability or any time of system for what we do with our money.
That makes media, marketers, advertisers and the like very happy because it makes them very rich. Needs are confused with wants. Priorities are out of line and spending is out of control and it is why many of us are in debt.
To sum it up we are clueless when it comes to money. On top of that we are in denial about it. Some of us. What is in your bank?
If you have some in their, is that where it should be? Do you know how to grow it? Do you have a retirement fund? Do you know the best way to pass money to your children? Do you know how to best save, invest, to minimize your tax liability?
See if we can't answer these questions then we tend to avoid everything connected to them.
So some make plenty of money, and do save but never really seem to be getting more financially secure. Why?
You may be doing better than many but obviously you too are lacking information.
Our decisions about spending, saving, budgeting and building credit should be from a result of using common sense and knowledge of money matters and basic principles so that we position ourselves to reach our goals to live a prosperous, happy and fulfilling life.
Effective money management and absence of greed is necessary to achieve and maintain these goals.
Guess what? All of you reading this are capable of effective money management, you just need the right money management information from the right people or sources.
The good news is that today, we have more access to this information than we ever have and for that reason, it is cheaper than ever.
But even better than that it is free for those who don't have the money through a lot of reading online and at your local library and for those with money and little time a personal finance coach or programs that use them can shorten your learning curve.