The Worrying Signs That You Are Having Financial Problems
With most things in life, realising that you have a problem is the first step towards finding a solution.
Financial problems don’t differ from anything else in this respect. However, it can be all too easy to fool yourself into thinking that everything is going ok. Of course, if you convince yourself that your finances are in fine fettle when they really aren’t then there is sure to be some trouble ahead. So how can you identify the fact that you under financial pressure?
The Days Before Payday Are Torture
I can remember a few times in the past when the days before payday were incredibly difficult. These were days for hunting down the back of the sofa for long lost pennies and for trying to work out whether that mouldy piece of bread I found would do me any harm if I ate it for lunch. It is normal enough for this to happen from time and time and it can even be fun to try and work out how cheaply you can live for a couple of days. Having said that, if the same thing happens before payday every single month then something is going wrong. It would seem that you are spending more than you earn every month, so a review of your spending is in order.
You Are Getting Phone Calls or Letters About Money You Owe
My general motto in life is that the fewer phone calls or emails I receive from banks the better. When you get one of these every now and then it is probably to offer you a new product or to try to tempt you into taking out a loan or credit card. However, when they start to call you on a regular basis then it is most likely because you owe them money. Ignoring these calls or messages isn’t going to make the problem go away, I’m afraid.
You Have Lost Track of Your Finances
If you have lost track of your finances then it doesn’t automatically mean that you in trouble but there is a good chance that you are. This is because one of the automatic reactions to being under financial pressure is to try and ignore the fact. If you know that the bank statement on your hall table contains bad news then it is easier to simply not open it. Of course, the problem with this approach is that your finances can slide further and further out of control. At some point you are going to have to face up to the situation and the sooner you do it the better. In fact, facing up to reality after a period of denial can bring a huge sense of relief.
You Are Always Waiting on a Magical Solution
I went through a phase of reading Billy Bunter books as a kid and I can highly recommend them as well written pieces of humorous prose. The reason I mention the rotund anti hero here is that he was always waiting for his legendary postal order to arrive. It might not be a postal order you are always hoping for but are you waiting for a magical solution to make everything alright? If you have decided that the future is out of your hands and that only a lottery win or massive inheritance can sort out your financial woes then something is going badly wrong. Instead of dreaming of a windfall you should be working at getting your financial life in order in a sustainable and orderly way. It can be done, with or without a postal order.
Have you recognised other signs of being in financial trouble?