Why Money Mishaps Happen

Understanding the chief causes why money mishaps happen should be a high priority for all of us.

If you cannot pay or does not pay your bills, it will inevitably cause tension, strife, friction, and frustrations in your life.

High on the list for causes of family conflicts and breakups is financial greed or disagreement.

One of my patients, Tricia, admits to constant psychological stress, addictions, and depressive episodes due to problems related to money.

“It’s hard for me not to spend and borrow money doc. I just can’t control it. I’m in a prison of too much debts,” she said over Zoom.

Lately, Tricia is on a warpath with the siblings of her deceased mother who left sizable amounts of landholdings.

A main reason behind the family squabbles has been financial infidelity and greed. On both sides.

Tricia’s financial problem is basically a psychological and spiritual matter. It’s a whole of life thing.

As a Billy Graham counseling guidebook put it,

“Handling finances brings into perspective the totality of life as it relates to God’s will and the issues of eternity.”

From my sessions with Tricia, we unpacked chief causes why she continues to be beset by money mishaps. Namely:

1. Wrong perceptions and attitudes towards money;
2. Living beyond one’s income;
3. Excessive credit buying;
4. Self-indulgent lifestyle;
5. Fallacy that money leads to ultimate happiness and contentment;
6. Lack of budget projecting and monitoring expenses;
7. One’s overall mental and spiritual disorder/imbalances.

These are chief reasons why money mishaps happen that we all need to learn and avoid.

In short, many people are in severe money mishaps because they mismanage their finances as well as their lives.

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