Monday, 09 January 2023 18:32

Warning signs in your personal finances

Written by Evelyn Alas

We rarely stop to analyze our personal finances. In many cases, people unconsciously spend every last penny of their fortnight and get into so much debt that they already owe the next one; this causes them to lead a stressed financial life.

In this article we give you some warning signs that will help you identify if you are managing your personal finances correctly and if you notice that you are not, you can take the necessary measures to do so, this will allow you to save, create a patrimony and live without money worries.

1-Month after month you have complications to pay your fixed expenses such as rent, electricity, water, telephone, car insurance, etc..,

2-Makes impulse purchases. You get carried away by promotions without stopping to think if you really need that item

3-Your credit card is overdrawn and you are unable to keep up with your payments

4-You borrow money from family or friends, getting deeper and deeper into debt

4-You lose control of your money by spending it on clothes, restaurants, movies or anything else you can think of, and your paycheck always ends up in zeroes

5-You do not have a savings fund for emergencies

6-You wait anxiously for your paycheck to go out and have fun with your friends, without first making a budget of your expenses.

 

Translated by: A.M