Have you ever thought that at the beginning of every month you have a good amount of money but you fail to manage it till the very last?
Have you ever thought that why are you financially unstable?
You are always under a huge debt of loans, credit card bills to pay and the worst part is that you can’t do anything about it.
This is most probably because you are bad with money. You are earning a good amount but it is not staying.
HERE ARE THE FEW SIGNS WHICH INDICATE THAT YOU ARE NOT GOOD WITH MONEY.
1. You Don’t Have Savings
Savings not only important to tackle down any unwanted cause or situation. But also it provides you a cushion in adverse conditions. Saving Money is always a good idea to support you financially in the future.
If you don’t have any savings in your account, you are certainly not in a good condition with dollars.
2. No Track Of Your Spending
We can manage anything if we have records of the same. This is also true for money, keeping track of spending provides you a certain idea where actually your money going. Maintain Budget monthly and follow with all your heart.
3. You Have Huge Debt To Pay
Taking Loans just to fulfill your unnecessary requirement and unaffordable lifestyle can seriously drag you in bad condition with money.
Debt is the cruelest money eater. Imagine a situation where you are always under a huge debt. In such a situation you can not enjoy your life financially.
4. No EMERGENCY Fund
Being ready for any adverse condition financially can prove to be a big support. Having No Emergency Fund can seriously put you in big trouble when it is needed. It is not that hard to put some money aside monthly in your emergency fund. All it needs is a small step to take.
5. You Fear Investing
People with the wrong attitude towards money fears the idea of investing. All they thought is that investing is horrible and they could lose all their money.
6. Too much relying on credit cards
Credit can be a savior but only if you are able to pay back the balance every month. But if you are using the credit cards and blowing money on living above your means then it is the worst thing to do with your finance.
Every time you max out the limit of your card can put you in a pressing burden of high-interest charges.
7. You Spend On Things You Don’t Need
Spending money wrong includes buying certain things that you don’t have a need for. Some people are impulse shoppers. They brought anything that satisfies their eyes. Which not only spend lots of valuable money but also create a junk of unnecessary waste.
8. You don’t have money left at the end month
If you are living paycheck to paycheck without a penny in a savings account then bro it’s high time to tighten your laces. You spend your earning in such a way that you left with nothing in your wallet. Nothing for savings, nothing for an emergency, nothing for investing.
9. Your Spending Exceeds Your Earning
So You are earning hundreds and spending in thousands. If you are in that category I am sure you are under tremendous debt to pay. It’s high time to look at your financial image in the mirror and analyze yourself. Your spending should be less than your earning.
10. You Prioritize Liabilities Over Assets
Well If you keep spending your earnings on your liabilities like your new car, new bike, new phone, and many more which in turn need money for maintenance. You, Will, end up max up your credit card and an empty wallet. It’s time to be a little more concerned about where to spend and where to save your money.
11. Your Unaffordable Lifestyle
According to me, this is the major cause of why people aren’t good with money? We know we can’t afford a certain service but for the sake of showing off, we end up buying it. We are partying every night, going to world-class events every weekend and enjoying every luxury without a thought that we can’t afford it. And what is left after all this, a handsome amount of debt on our chest to pay.
12.Wrong Information About Money
People who have trouble with money have one thing common between all is that they have wrong information about money. They thought money is the root cause of every evil. They focus on traditional ways to earn money. Such people prefer active income rather than passive income. And also they don’t accept the idea of frugality or frugal living. People will such an attitude, spend all their lives paycheck to paycheck, and never achieve a good amount of wealth.