being financially unstable can be a direct result of mismanaging [their] finances
Phoenix, AZ (PRWEB) May 29, 2015
Debt Consolidation USA shared in a recently published article how consumers can recognize financial signs that they are already in trouble. The article titled “5 Signs You Are Financially Unstable” looks at some of the telltale signs that consumers are in financially unstable to help correct the problem.
The article starts off by pointing out that being financially unstable can be a direct result of mismanaging their finances.There are some consumers whose financial instability comes from their own doing. In these such cases, it is important to see the signs of trouble because they might end up spiraling down a big financial hole.
One of the things that consumers should look out for is when their credit card bill is much more than their budget can handle. It means that they were not able to budget and plan for the purchases and they might either have to move payments around or make the minimum card payment which can mean interest and other fees.
Another sign that the finances is entering an unstable territory is when consumers find that their salary cannot seem to make ends meet. They find out that they are already running short on funds days before their next payday. Consumers needs to revisit their budget and look for holes they can plug to improve their cash flow.
The inability to increase the retirement fund of a consumer can also mean that they are financially unstable and would need to carefully reassess how they spend their money. They need to add to their retirement fund gradually over the years to make compound interest work on their favor.
The same things goes for their reserve funds because this helps protect their finances from unexpected expenses in the future. The bigger the reserve funds are, the more it can help consumers fend off emergencies in the future. To read the full article, click this link: http://www.debtconsolidationusa.com/personal-finance/5-signs-you-are-financially-unstable.html