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One of the biggest fears in adulthood is running out of money. Let’s be honest, we’ve all had a night or two spent ominously staring blank at the ceiling regarding a “money-situation”. Whatever that worrisome was, it was still a fear that caused an emotion to overpower your sense of security and peace of mind. For someone like me, (someone who takes pride in helping people make sure they are financially sound for the rest of their lives) this fear of running out of money deeply haunts me.
Many people ask – Are there signs? When do you know? Does it gradually happen or do you suddenly find yourself scratching your head looking for an explanation when you sit down to do your bills every month?
So the question today is: what are some of those signs that you may be running out of money?
1. One at a Time: When you’re living paycheck to paycheck, not only can it cause immense havoc on your nerves, it can also be the telling sign that you’re close to running out of money.
2. Swipe That: No I’m not talking about those Tinder commercials you see that comically repeats, swipe left. I’m talking about that piece of plastic. If the only form of payment you use when purchasing something is credit, versus cash or debit, that’s a tell-tale sign you’re running out of money and probably, digging yourself a big hole.
3. You Broke In: SMASH! Goes the piggy bank… You’ve either started to dip into your savings account, or you’ve already dipped your hand past the bottom of the bowl. Having little to no savings is a major financial “red-flag” for your livelihood.
4. Your Score: Another sign is when your credit score starts dropping little by little by little. And then, all of a sudden, Ker plunk!
Inevitably, if you’re running out of money, all these signs usually happen one after another, and in no particular order that is. To stop the inescapable domino effect, you have to stop everything you’re doing. There’s no more time for excuses, it’s time to consider what is really happening with your money.
Are you putting your wants before your needs? Are you having a secret affair with Amazon or EBay or even Bed Bath & Beyond? Whatever the reason may be, the sooner you discover the source of all despair, the sooner you can live a stress-free financial standard of living and lifestyle that you truly deserve.
If you know someone who needs some help or someone to, as they say, set-you-straight, just give me a call. I’m always just a phone call away.