I was just told this observation where when it comes to managing money and teaching younger people as well as some older people about it, one of the key reasons why one would tend to mismanage their funds is that they don’t fully grasp the concept that you can run out of money.
Sounds kind of strange when you think about it huh? In a broader perspective I guess that makes sense. For example, nowadays when one runs out of money there are so many options to still get what you want such as through credit or even borrowing from others.
This must be one of the simpler things to learn though if it is an issue in one’s financial situation as I’m sure even things like having to buy certain grocery items with an X amount of dollars would help lot.