People spend an incredible amount of time accumulating capital, but many spend hardly any time learning to properly manage it, relying instead on financial advisers selling commission driven products.

I think that it is often the mentality of trying to "beat the markets" that lead people to make poor financial decisions, when in fact the majority of the population would benefit from taking the time to obtain a fundamental understanding of their own personal finances.

Also maybe beating the market is not that important, but I was making a mistake of accumulating cash without investing it when I was younger. I didn't have spending problems though as I was frugal in my life (though being too frugal was a problem in itself as well).