Tuesday, May 30, 2006
Financial capability
The Financial Services Authority (FSA) - UK's financial services regulator - conducted a survey to measure financial capability. The most interesting part was that 31% of people sometimes run out of money at the end of the week or month, and 9% of people always run out.
Difficulty in making ends meet is not restricted to people with low incomes. Similar proportions of people on higher and lower incomes complain of this problem.
People as rich as Larry Ellison (Larry Elison's spending worries his accountant) and Michael Jackson (Michael Jackson restructures finances) have had trouble making their ends meet.
If you want a good DIY guide to financial management, try Risk Is Still a Four Letter Word by George Hartmann.
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