My take on why we do not manage our OWN finances well:

there are many things in our lives which are in the ‘to do’ list. And largely we can classify them as follows:

Habit must do: brush your teeth, make your bed, take bath, – not terribly exciting, but we do.

Pain must do: pay bills (or the service will be disconnected)

Body demands must do: hunger, sleep

Financial / Social must do: go to school, college, office

Most other things are ‘optional’. We may or may not do many of these things – get into a relationship, look after your finances PROPERLY (if u do nothing, it still earns 4%p.a. in the SB a/c), exercise, have a discipline in your eating, sleeping, etc.

The optional list makes your life better – far, far better if you ask me. However there is NO short term impact of ‘NOT’ doing these things, are there? There is no penalty on you if your portfolio underperforms. Your children may not live well if you die without life insurance. You may burn all your money if you did not have medical insurance. You may work till 80 if you did not have a pension plan in place.

You maybe overweight and in bad shape if you do not exercise. Will you exercise?

Why does a Kareena Kapoor or a Ranbir Kapoor look after her/ his body while Shashi Kapoor does not?

Simply the younger Kapoor’s lives depend on how lovely they look. Not true for Shashi Kapoor and Rishi Kapoor.

Neetu Kapoor keeps fit by choice.

Same thing for Personal Finance….