Have you tried to commit to a plan for your finances but just canâ€™t seem to make it stick? The folks at Principal Financial Group offer a few possible reasons why you might be going in circles.
In this infographic, they map out some factors that affect your ability to stay committed to getting your money in order. Not surprisingly, the top reason for not successfully carrying out a financial plan is living beyond your means. Whatâ€™s more, financial planners say their clients are lying about how much they really spend above and beyond what they can afford.
So whatâ€™s the lesson here?
First, be realistic about what you are able to spend. Next, be truthful with your financial planner so that he or she can give you the help you need.
Click on the image for more insights into why your financial plan is falling apart.