Why are people no good at managing money?

Many people struggle with managing money due to a lack of financial education and understanding of budgeting principles. Emotional spending, influenced by societal pressures and marketing, can lead to impulsive decisions that undermine financial stability. Additionally, cognitive biases, such as optimism bias and procrastination, often prevent individuals from planning for the future or addressing their financial issues proactively. These factors combined result in poor money management habits.