At any stage of life, anyone can have money troubles that means they need to ask for professional advice. Whether its debt, overspending or an unexpected financial blow that has put you in jeopardy, there are a number of ways you, can help to remedy the damage. Even if your affairs are not dire, there can be plenty of warning signs that your current financial issues are worse than you thought, and that they may progress further into the future. Consider contacting a professional for advice if any of the following circumstances apply to you:
The Lending Cycle
Borrowing money, in either small or large quantities, is a sign of deeper financial problems. The size of the sum is irrelevant, but the fact that you’ve put yourself in so vulnerable a situation financially means that in times of duress when unexpected costs come up you’ll have nothing to fall back on, apart from the support of family and friends. Borrowing money puts both a strain upon you and your relationships and is indicative of a need for savings.
Pressing Pause on Your Social Life
A monastic lifestyle is miserable, and socializing and entertainment are essential for happiness. Turning down social engagements because you can’t afford them will increase your feelings of stress and isolation. If you only have sufficient means for the bare minimum of costs such as food and rent and find yourself living a spartan life, its time to reconsider how you can organize your financial affairs to give yourself the kind of life you want to lead.
Checking, Double Checking, Triple Checking
Either dreading to check your bank balance, or checking it every five minutes are signs that your financial affairs are up in the air and out of your control. Living with that degree of uncertainty is harmful to your mental health.
Live For Tomorrow
If you’re telling yourself you’re ‘living in the moment’ without savings and that ‘things will sort themselves out’, it may be true, but you don’t want to risk it. Having a back up amount of savings will give you peace of mind and protect you in case of events such as job loss, car problems or health crises.
If you feel a sense of dread when you head to the letter box to fish out those envelopes with the clear plastic windows that bear ill-tidings, remember that it doesn’t have to be that way. Bills are an unavoidable part of modern life, and if the arrival of one causes you angst and stress after, or even before you’ve opened it, you are not in a state of sufficient financial security.