The chasm between those who have too much and those who have too little is possibly the greatest problem currently facing the world. It has cost some rich people their lives in 2011 and has caused misery for millions. It is clear that poor financial management is not the preserve of the poor but also rife at the top levels of government.

News reports tell daily of the insane amounts paid to some executives and government officials. On the other side of the divide competent people struggle to buy essentials from meagre earnings. Such inequalities lead inevitably to disastrous consequences for rich and poor alike.

Not long ago in history European aristocrats earned much more than they were worth. It was competent middle class people who understood the value of money who engineered the demise of the too rich. Similarly there are sensible people in current times who understand that the unearned emoluments of some executives are well beyond the realms of reason.

A great sage of current times has generated huge wealth for himself and others. Despite this he pays himself a modest salary, works still at the age of eighty and lives a frugal life. He argues that people who are as wealthy as himself should pay more tax to a democratically elected government. It can be safely said that he understands money and how to handle it.

Personal wealth is not unjust if it is deserved and legitimate. However, when it is undeserved society becomes unbalanced and precarious. In 2012 squatters gather in some city squares protesting at inequalities. In other parts of the world the very wealthy gather behind barbed wire to discuss economic woes. These are dangerous times.

High salaries are no guarantee of pecuniary prudence. In some countries there may be many people earning high salaries though they may lack skill, education and competence. Such people are likely to get into debt despite high salaries. The taste for luxury is quickly acquired and the cost of fancy cars and clothes can quickly exceed even the fattest of monthly salaries.

On the opposite side of the chasm there are people who may do valuable jobs for which they are poorly paid. In their case debt may also become a problem simply because they do not earn enough to pay for essentials or meet emergencies.

Between two insane extremes there is a sane middle way and it may be named as prudent management of affairs. When people know how much they earn and live within their means they can be proud and secure. Debt is kept at bay despite the complexities of commerce and domestic demands.

One of the greatest benefits of our times is the Internet. It enables us to access tools that can make our lives a great deal more efficient and productive. Calculation and documentation of details whether on personal or public scales is now available to everyone from president to private resident.

Bank accounts, credit information insurance policies and investments can all be aggregated. Amounts spent and earned can be accurately categorized so that personal and financial information is simplified and presented for the individual to make informed decisions. In fact the site offers individuals the opportunity to join a community in which financial information and advice is shared. This all contributes to knowledge and skill in controlling financial affairs in varying scales.

You will find details about the reasons why you should use the latest financial management tools and information about a free online personal financial management platform, now.