A financial problem is a situation in which you are not able to meet your bills on time or afford necessary basic needs. http://www.ask.com/question/definition-of- financial -problem.
Common causes of financial difficulty include:
Poor bookkeeping records: A detail oriented, skilled bookkeeper will help create invoices, help collect accounts receivables and keep on top of the AR Aging Report. So that money is coming in on a regular basis.
Lack of financial knowledge: A lack of understanding of money and budgets can lead to financial disaster. This can set the “tone” of financial management in your business, even in the home. It’s important to have someone who can counsel in order to avoid the pitfalls of money mismanagement.
Personality traits: If one of the partners in business tend to make decisions on an impulse spending can easily end up in company purchases that exceed cash flow.
Economic factors: Keeping an eye on the economy, knowing which politician will raise taxes, increase regulations is key to making plans for the future. Companies that conduct market research services can assist. Examples of such companies:
Trendsource Inc Link: https://www.bloomberg.com/profile/company/0504989D:US#xj4y7vzkg
Newtonx.com Link: https://www.newtonx.com
