Danger ahead: How to spot financial woes before it's too late

Posted By: Matt in Saving on 10/26/2018 at 10:44:42


But how can tomorrow look any different than today if you don't change the status quo, namely what you're current doing to manage money· The reason you don't change or don't recognize that a problem exists is because you can't spot financial woes before it's too late.


Knowing how bad things are starts with acceptance and paying attention to your day to day money habits but also how you're managing (or lack thereof) your money specifically.

For starters, if you notice that you're using credit cards quite a bit or your money is running out to the point that every month you're borrowing from either creditors or even family or friends, then your budget needs serious work. The budgeting part is so crucial in understanding where you are and ultimately fixing it.

A good budget takes into account that your expenses shouldn't overtake your income and thus leave you with some money in the free and clear. Being at a deficiency means you're either not properly budgeting or you don't have a budget to speak of at this moment.


For some, this is commonplace and really isn't seen as an issue but rather it is blamed on the "economy" or just shrugging off that it's hard to live within your means when you have expenses that can't be avoided.

The reality is expenses can be controlled and while that exercise isn't always pleasant, because no one likes to cut things out that they enjoy or want to buy and enjoy, you must take into consideration having zero dollars set aside for an emergency.

Being self-aware is second only to truly accepting where you are money wise. If you don't make enough to support how you live, change it. Between that blanket statement and the other aforementioned tell-tale signs, you should be well aware if a financial fracture is personally awaiting you.


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