Inadequate savings when there is little or no financial cushion to help in times of difficulty such as job loss, divorce or bereavement. It is generally regarded that savings of 3 to 6 months of living costs is sensible.

In the current financial climate with falling real estate values especially in The United States and Great Britain there is a major problem of negative equity in the family home, overextended mortgage repayments and default leading to eviction. This leads to an increase in homeless and street living.

inadequate life and disability insurance is a common problem. It is regarded as an unnecessary expense for many people, but is vital to cover for the unexpected accident or illness.

Many people have no plans for retirement, relying on the state to provide a reasonable income when they stop working. However we increasingly hear about the shortfall in retirement income with the current recession. The income drop can be a big shock unless you are prepared - (believe me, been there. ed). A problem of old age.

the available tax deductions will vary from country to country and from government to government but these can make a big difference to your income and should be used as much as they will allow.

Overuse of credit cards and the pushing of their limits is also on the increase and is one of the major factors in financial problems with the high rates of interest charged. Since 2011 adverts have appeared on British TV offering loans at more than 4600% interest per annum.

Also helpful may be our pages for addictions, stress.