Money is not everything, but people who have no soon find out that the dangers of debt is less about going broke and more about their family, their marriage, their careers and their well being. Debt affects all aspects of people's lives. It is over marriages, caused depressions, separated families and caused death. No wonder people call money the root of all evil.
If you think your level of debt may be nearing dangerous point, there are some ways you can find out if you manage your money, or if your money is controlling you.
Here are some indicators:
1st You do not know the balances on your bank accounts.
Chances are if you do not know how much money you have so you spend money recklessly, especially if you are charging items to your credit card or an overdraft. Even if your expenses are no problem, without knowing your balance at any time can cause problems in future.
2nd You borrow money from others, even small changes, and forget to pay them back.
If you can not even remember to pay an employee back to coffee the day before, it is likely you have trouble keeping track of the bigger financial picture in your life, too.
3rd You have not put any money aside for taxes or retirement.
If you do not plan for your financial future, so you should be.
4th You can not go up a bargain when you are shopping.
Not to refrain from buying items you do not just fill your home unnecessarily and empties your pocket book. This is a small sign that you are not in control of your finances.
5th You have difficulty meeting simple personal or financial obligations.
Problems with this can mean many things and none of them are good. You are probably disorganized, forgetful, apathetic and irresponsible. Taking charge and being accountable for your spending and measures is a good thing.
6th You get a different feeling to buy things on credit than you do in cash.
It does not matter how you buy something you have to pay for it, be prepared for it.
Seventh You feel like money is causing chaos in your life.
You must want your finances are orderly and precise. If not, you should seek a financial planner or credit counselor to remedy the situation.
8th You live pay check to pay check and feel like you're always on the edge of bankruptcy.
Everyone should have savings and a financial plan for the future. What is yours?
9th Talking about money bothers you.
If you can not even talk about it, how do you handle being responsible with it. The first step to having a solid financial plan when you're on the wrong track talking to others to decide how to proceed.
10th You are over-work or under-earning.
You need to make healthy decisions in your life that contribute to a solid financial foundation. Maybe you should ask for a raise or consider looking for a new job.
If you felt uncomfortable thinking about these indicators, or if you're uncomfortable at your finances, chances are you have to look at creating more structure in your life and create a plan for your financial future. An excellent proposal strongly recommended is to learn how to become debt free.
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