The most important point in financial management is being able to strike a balance between expenses and income, most people don't care about the amount of spending so that every month they run a deficit, they do it by borrowing which actually makes finances more difficult, stop spending that is not important.
And to control your spending it's important to pen down the spending properly first. I remember a wise quote that says something like "You can't control and improve what you can't measure". This means if you cannot track down specifically what you are spending excessive money on, you will have a hard time controlling and cutting it down.
Financial management is not just about making more money and managing your portfolio and time more effectively, but it's about how you can chop down excessive spending and ensure that you are in control of what and how much you spend.
I personally used to struggle with my income and expenses but after writing down roughly how much I am spending on what, it gives me more control on what I need to avoid and focus next month.