7 Warning Signs That Your Money Problems Are About To Get Worse

Despite your best efforts, you may find yourself facing severe money problems. When this happens, you can either choose to identify the source of your financial mess and take corrective action before matters get worse, or you can choose to blame it on bad luck and hope for better times.

The choice you make will have a significant impact on how soon you put an end to your ‘crisis’.

Many people believe that if only they had more money they could have whatever they want and be on their way to creating a life of financial security.

In this article we’ll go over 7 warning signs that your money problems are about to get worse. For as long as you ignore these warning signs, accumulating a lot of money will only be a distant hope.

1.  You are always short of money

If you are always short of money irrespective of how much you earn, it is probable that you are dealing with an even bigger money problem than you can imagine.

For most people, an even further increase in pay will not solve this problem since the issue here has more to do with mindset than with money.

2.  You do not have any have savings or investments

One sure way to attain financial security is to save and invest over a long period of time. If you do not have any savings or investments, you are probably living hand to mouth.

Savings act as a good fallback position when you are out of a job or when you have a temporary financial setback.

Are you investing your money?

What percentage of your income do you save if any?

3.  You are carrying too much personal debt

Do you know how much debt you carry? If all you have to show for your hard work is debt and you are in the habit of borrowing to pay off other loans, you are probably carrying too much debt.

This is a sign of poor financial management and until you get out of the debt cycle you will keep wondering why you never get ahead.

4.  You have not taken steps to learn how to manage your money

Money management is not part of the school curriculum. This presents a problem for most people because no one teaches you how to manage your money once you start earning.

As a result, you find yourself making mistakes that keep you short of money without realizing it. In such a situation, taking charge of your financial affairs will become practically impossible.

5.  You have no idea where your money goes

Many people do not bother to find out where their money goes because the next paycheck is a few days away. If this describes you, then you are clearly going to keep having to borrow money to keep up with your expenditure.

All may seem well until you lose your job or your ability to earn.

6.  You believe that your boss or the economy is to blame for your money problems

The moment you believe that your lack of money is someone else’s fault, you have practically handed them the power to control your financial destiny.

For as long as you brand yourself a victim, you will not be compelled to make any changes to improve your financial situation.

7.  You are scared of losing your job because you do not know how you will survive without it

The final warning sign that your money problems are about to get worse is the fact that you are scared of losing your job, especially if it is your only source of income.

If you are working for somebody else, there will always be a possibility of being fired or laid off and there is very little you can do about it.

If you feel you cannot survive without your job, you have to start taking steps to eliminate this fear.

So there you have it. How many of these warning signs, if any, are you experiencing in your life today? Whatever your financial situation, there will always be something you can do to make a change.