5 Reasons People Struggle With Money


We all deal with money every day, so why is it that so many people still struggle with money? Make no mistake — there’s a lot of data, information and knowledge out there. But what if you have the wrong information, data and knowledge? Wouldn’t you want to know better, and then do better?

So much of the information about money that exists, and is encouraged, is based in scarcity. It keeps you in the rat race by pinching pennies and cutting out lattes, and scrimping every extra bit that you have. And it never makes you richer. It simply keeps you afloat for a time.

With the over-saturation of financial information, there are still so many that struggle. The emphasis, as it turns out, is not on building wealth but on minimizing debt. If you want to exit the rat race, you’ll have to change the way you think about money. If you think that’s you, here are 5 reasons you’re struggling with money (and how to fix it).

1. We Don’t Teach Financial Literacy

Money is a daily part of the world we live in, and yet basic financial literacy isn’t taught in schools. Students aren’t taught how to create, protect and multiply that money. That is the data, information, and knowledge you should be able to access. Apart from just scrimping, you must learn how to become wealthy and improve your quality of life.

Schools teach us how to be educated enough to work for someone else, and how to help other people and businesses achieve their dreams.

In order to have a more financially literate society, literacy must be taught to our children. More importantly, you owe it to yourself to become financially literate. Don’t rely on the knowledge of others to make big financial decisions. A little research can go a long way, and keep you from making decisions you aren’t properly prepared to make.

2. You’ve Inherited Someone Else’s Mindset

Consider how you were raised to think about money — were you taught that money doesn’t grow on trees? Perhaps you were taught to work hard for what you wanted. Maybe, money was never a concern in your family, and so you never learned much of anything. Regardless, your parent’s views on money likely shaped your own views as you transitioned into adulthood. Those seeds were planted in you, little by little, until there was a fully grown garden.

If you struggle with money, and you find that it is rooted in your core beliefs about finances, you must unlearn what you have been taught. You must outgrow your mindset and be open to new ideas in order to move upwards. The mindset that got you into financial trouble will not (and cannot) be the same mindset that lifts you out of financial trouble. Look to others’ success for hints on how to transcend your troubles.

3. You Have the Wrong Mentors

Speaking of financial mentors, it’s crucial to remember that those you surround yourself with will largely influence who you become. You must be very deliberate about who you choose to emulate or associate with, for it is not a level playing field.

I encourage you to do your research and study those you admire carefully. When it comes to financial advice, do these “gurus” practice what they preach? Often the strategies of the wealthy are different than those encouraged for the masses. When principles and practice align, you can be sure the advice is sound.

This advice also applies to your friends. Do you surround yourself with Negative Nancy’s? Thought is infectious, and a negative mindset will keep you from achieving your dreams. Surround yourself with positive, inspiring, and ambitious people and you set yourself up for greater success.

4. You Don’t Have a Strategy

After choosing your mentors, you’ll likely be soaking up all kinds of new information. I encourage you to learn as much as you can — attend seminars, listen to podcasts, read books. But don’t let the possibilities of being a student keep you from acting. You must balance the lifelong learner mentality with the mentality of a lifelong implementor. If you don’t have a strategy, or develop one based on what you’re learning, it will be impossible to advance.

The dictionary definition of a strategy can be boiled down to the method or plan chosen to bring about a desired future. This future can either be a specific achievement or a solution to a problem. It is both an art and a science for using your available resources for their most efficient and effective usage, derived from the Greek word for generalship.

Having a strategy means owning your means and methods completely. You know how and why you make your decisions. Often, the people who struggle financially have employed methods or bought products because they’ve been told to…but they don’t really know why. Whether or not you work with an advisor, you must know what assets you have, and why you have them, in order to build solid strategies.

Consider golfing — your clubs are the assets. The swing is the strategy. You have to know your clubs well, and what they’re designed for, in order to employ the most effective strategy, or swing. You can have a whole bag of golf clubs and still not win. Arm yourself with a solid strategy, however…

5. You Only Have One Strategy

On the flip side, strategies are great, but you have to be able to recognize and develop different strategies. You will experience different stages of your financial life, and one strategy will not carry you all the way through. You’ll need a strategy to get you to financial security. Then there should be a different strategy to reach financial independence. Financial freedom and then financial significance are the next stages of your financial life, and also require different strategies. You can’t climb the ladder with only one strategy. Just as you have different clubs, you must use different swings.

These strategies will be different for you than they will be for your friends and family as well. Finance is not one size fits all (though we’re taught as if it is). If you consider your greatest asset, you must develop your strategies accordingly. What are your unique abilities, your strengths, your goals? If you build strategies based on someone else’s foundation, you cannot succeed.

In these times, no one talks about money, yet most people are struggling. We must put an emphasis on financial literacy and help each other to understand their unique position with finances.

Hopefully, this post has given you some ideas on how to take your finances to the next level. Empower yourself to learn about the strategies, products, and tools that the wealthy use. Cash flow might seem like a secret, but it’s accessible to anyone with the desire to truly learn.

You can listen to the podcast episode I recorded on my new show, Cashflow Investing Secrets here.

Live your Freedom, Live Your Legacy, On Your Own Terms,


M.C. Laubscher is a husband, dad, podcaster & Cashflow Specialist. He helps business owners and investors create, recover, warehouse & multiply cashflow. You can learn more about exclusive cash flow strategies in M.C.’s new video series at https://www.yourownbankingsystem.com/

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