It's easy to talk about people who are far down the road of financial chaos, but I wanted to take a moment to call out some of the initial warning signs. My hope is that if you can spot the early red flags you can make changes before it's too late:
Here are some early signs of trouble:
-You start to carry a credit card balance because you just don't have quite enough money to cover it but you plan to catch up soon.
-You have to hold off on paying bills until payday.
-You bounce a check.
-Your day to day expenses are high enough that you decide to start scaling back on your retirement savings.
-You find yourself dipping into your emergency fund for non-emergency things like utilities.
-You find yourself having trouble paying for basic needs like groceries.
If any of these happen to you then stop, take a moment to look closely at your lifestyle. It could be that you're starting to live beyond your means. Deal with it now before you dig a hole that you'll never get out of.
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