signs that you are headed for financial ruin

The things you do with your money today affect your financial future not only tomorrow, but years later. Here are 4 signs that you may be on a bad financial road and how to make a change:

1. You don’t track your income or savings

If you don’t know how much you are bringing in and spending, you really don’t know what’s going on with your finances. To spend wisely and save money, you need to know that you are spending less than you are earning. If you spend more than what you earn a month and less than what you earn another month, things could even end in the end, but you still need to know how to budget. Budgeting allows you to spend less than you earn and therefore save more money for your future.

2. You use your savings frequently

You might be a good saver, but if you often use your savings to pay bills or buy fun things you want, you don’t really save any money in the end. Continue to save money, but stop using it to pay for things. If you spend more money than you earn each month, you need to adjust your spending.

3. You think being in debt is not a big deal

You might feel that way because so many people are in debt, but that doesn’t mean that everything is fine. In fact, debt can ruin your credit, which can make it difficult, if not impossible, to buy a house, a car, or even rent a house. Many places do credit checks to make sure you can rent or sell safely. If your story is not good, they can refuse you. The good news is that you can fix your credit and get back on track.

4. You lend money and are never reimbursed

If you’re ready to lend money to people who never paid you back, you suck. They also know that you are a sucker, and that is why they keep asking you for money. Whether it’s a 20-year-old brother or a best friend, if you lend someone money and they never bother paying you back, stop lending them money. ‘silver. ‘silver. ‘silver. Yes, it will be difficult to say no, but you have to protect yourself and your money.

Learning to be financially wise is not rocket science, but you will have to create new habits and learn to say no. But don’t worry, once you see the results of your new habits, you will be motivated to continue on your new path.