a person is already a financial mess is not knowing where their money goes every month
New York, NY (PRWEB) November 21, 2016
National Debt Relief recently shared in an article published November 14, 2016 some of the signs consumers can use to determine if they are already in a financial mess. The article titled “Personal Finances and the 5 Subtle Signs Yours May Be a Mess” helps consumers identify these common warning signs to help them with their finances and be proactive with their responses to correct their situation.
The article starts off by pointing out that there is a good number of consumers who could be losing sleep over their finances. They are constantly worrying about their money and develop several financial fears along the way. It can be constantly worrying about financial emergencies or even unemployment. This can have physical manifestations that results into health issues and further make a consumer dive into a financial mess.
One of the clear signs that a person is already a financial mess is not knowing where their money goes every month. The article explains that there are consumers who feel that their funds seem to just disappear each time. The simple solution to this is that they should track their spending for a few months to have an idea where the funds are going. The article goes on to explain that this will also help consumers prioritize spending and be able to pay their debts better.
The article also shares that a consumer could be in a financial mess if they are already missing their credit card payments. People often overlook the fact that credit cards oftentimes carry the highest rates among their payments and missing one month could swell up the succeeding amount due to several fees and penalties on top of the interest rate. The solution is to pay the full amount each month and not use the card if this is not something they can achieve.
When consumers are not able to pay not just their credit card statement but most of their bill on time, this is also a clear sign that they are in a financial mess. They are trying to perform a juggling act with their payments and missing every deadline along the way. The idea is to develop a budgeting system that would let them know ahead of time that a payment will be due to give them ample time to prepare and send out the payment.
To read the full article, click https://www.nationaldebtrelief.com/personal-finances-trouble-signs/