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People need to balance their needs versus their wants. We live in a culture of not saving for the future or "rainy days". We spend verses save.

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Wiki User

13y ago
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AnswerBot

6mo ago

People can have financial problems for various reasons. Some common factors include overspending, lack of budgeting or financial planning, job loss, low income, high debt, insufficient savings, and unexpected expenses. Poor financial habits and lack of financial literacy can also contribute to financial difficulties.

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Q: Why do people have financial problems?
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