Based on my experience number 1 reason why people are broke and live paycheck to paycheck all their lives is NO FINANCIAL EDUCATION.
In today's world people want everything that life has to offer. Great clothes, cars and gadgets. Luxurious vacations and beautiful homes. What we all fail to understand is that in order to have all that and enjoy it we need money. To have money it must be constantly generated. And for those people who work for someone and have set salaries they either have to earn 10 times the minimum wage PER PERSON or save minimum 25% of they salary religiously while investing it as it comes PRIOR to paying the NEEDS (bills,food) and spending on WANTS (Non-essential things)
Key factor is to SAVE MONEY while INVESTING minimum 50%
I'm going to keep this short so I'll end it with one question.
How many of you thought of saving and Everytime you find a reason to spend it on NEEDS and WANTS?