Top Signs You Need Financial Help
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The new year is always a time for new challenges and a lot of responsibilities.
If you are looking for a way to start fresh this year and get your life in order, one thing which could be a great idea is getting some financial advice and help.
Your financial situation is something which is crucial to your way of life and your ability to live comfortably, and this is why today we are looking at signs that you need help.
YOU HAVE NO EMERGENCY FUND
It is rather surprising how many people don’t have a savings account.
A savings account is supposed to be there to help us keep money to one side for a holiday or a house or for a rainy day.
As adults it is super important to have one of these because of something ever happened and we could no longer work, it would be this which helped us through.
Speak to a financial advisor on how to best open an account and save.
YOU LIVE OFF LOANS
It is important to remember as an adult that loans should only ever be a last resort when you have no other options and you cannot pay off your bills.
It should never become a habit and you should never take out more than one loan at a time.
If you notice yourself buying furniture or going on holiday via a loan this can be damaging to your finances.
Make sure that you always take the time to try every other option before you head for a loan, and if a loan is the only way, speak to someone.
YOU USE YOUR SAVINGS FOR LIVING
A savings account should be used to save money for important things in your life and also for a rainy day if you ever need it.
It should not be used every month as a way to help you pay your living expenses.
When you take money out of your savings account to do this it defeats the whole object of saving; and this is always bad.
Make sure that you use your savings only when you need them and save them up for things that really count.
YOU ALWAYS USE A CREDIT CARD
Credit cards are a good and an evil in equal measure.
As a means to build up your credit score it can be ideal, but when it comes to spending beyond your means it is deadly.
If you find yourself putting everything on your credit card instead of your debit card and then worrying about paying it at the end of the month, you’re in a bad place.
YOU KEEP TAKING OUT DEBT
Debt is something we never want to deal with as adults and it is crucial that you never take out a debt unless you have no other option.
However if you have already got debt and you don’t think twice about getting more, this is a very bad sign.
Make sure to get some help and advice.
Are you struggling with debt and saving? Start the discussion below to feel the support!
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