What are common signals that you are in trouble with your finances and need help?
- You won’t open bills because you don’t have the money to pay for them.
- You won’t open an investment statement because you can’t take seeing more losses.
- You have at least one credit card balance that is maxed out.
- You have no emergency fund or savings for predictable upcoming expenses.
- You do not know the interest rates you are paying on debt.
- You find yourself looking for items to pawn to pay for bills.
- You routinely run out of money before the end of the month.
- You are paralyzed and unsure about what to do to fix or improve your situation.
These are alerts that you are in financial trouble and likely need outside assistance to get your financial life back on stable footing. This help can come in many forms, a trusted friend or relative, your own online research, if you are in bad shape you may not be able to afford a financial councilor but your bank will likely offer some free budgeting assistance. You need someone who is financially literate to guide your decision-making until you become financially literate on your own. It is not difficult. Please do not wait until there is a financial calamity, let go of your pride and embarrassment and get the help you need, the sooner the better!