Time for a Financial Check-Up
Like medical problems, it’s best to detect and fix financial problems early, before they spiral out of control.
Study this list of common personal financial problems. If you can identify with any of the symptoms, it might be time to change your habits and improve your financial health.
Problem 1: Not planning
You’ve allowed your credit card debt to accumulate. You’ve left your
“savings sitting in lousy investments for years.” You “leave gaps in your retirement and insurance coverage.”
Cure: Stop procrastinating.
Problem 2: Overspending
Basically, you spend too much. You don’t same much (less than 5% of your after-tax income.)
Cure: Become thrifty.
Problem 3: Dependency on Consumer Credit
You carry a balance month-to-month on your credit card(s). You’ve purchased a car on credit.
Cure: Cut up those cards.
Problem 4: Delaying saving for retirement
You haven’t even thought about putting money aside for retirement.
Cure: (see problem 1)
Problem 5: Sucker for Sales Pitches
You are easily pressured into making financial decisions. You don’t take time to reflect or get a second opinion before investing.
Cure: Just say no to slick salespeople.
For more financial health problems to watch out for, check out the article at AllBusiness.
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You’ve allowed your credit card debt to accumulate. You’ve left your
“savings sitting in lousy investments for years.” You “leave gaps in your retirement and insurance coverag.”- this is the root cause of failure of many people in their personal lives. Many people trick themselves by thinking that everything will become fine.