38 year old colleague of mine.

I had a email conversation with a colleague of mine today, he is currently based overseas and is fours years my senior (38 years).
What struck me most was his dreadful financial situation now and the fact he is married and will be having a child soon. His wife is currently not working.
He is currently living in a rented apartment, has no savings after paying his bills and is still paying off his credit card interests/bills.
After analysis from our conversation, I came to understand how he ended up this way;
1. Lack of Saving
2. No control of Spending ( Spend money emotionally )
3. No investment
4. No financial knowledge
5. Did not pay his credit card bills in full
6. Job hopper
7. No aim to earn more money


Above points are a reality and he has to start to save to get his finances in-order.
The only positive point was that he had managed to spent on hospitalization insurance and this had helped him to offset alot of hospital bills when he had a health situation recently.
I had asked him to purchase a property instead using a bank loan and he is currently talking to his bankers.
He has to start to save now inorder to get things started.
It might not be easy, but he has to start somewhere...