New Delhi, Oct. 31 -- If you are in your early 20s or 30s, the problem may not always be how much you earn or how well you understand financial products. Your everyday money habits, including saving, borrowing, and spending, can play an equally important role in determining your financial well-being.

Personal finance expert Dave Ramsey believes that managing money is largely about behaviour rather than financial knowledge. "Personal finance is 80% behavior. It's only 20% head knowledge," he said.

Ramsey is the founder and CEO of Ramsey Solutions, where he has helped people take control of their finances since 1992. He is also a nine-time national bestselling author and host of The Ramsey Show. Having worked his way out of bankruptcy and...