Final answer:
Excessive spending is commonly identified by financial experts as the main reason for financial failure. Managing personal finances effectively involves controlling spending and saving early. The correct option is C.
Step-by-step explanation:
Financial experts generally agree that the most common reason people fail financially is C) Excessive spending. Factors like lack of education, high inflation rates, and economic downturns certainly play roles in financial hardships, but individual spending habits often have a more direct and immediate impact on financial success or failure.
By managing spending, avoiding debt, and saving money, individuals can work towards financial stability even in the face of other economic challenges.