You probably know when you need to watch what you eat – your clothes don’t feel right, you feel out of breath easily, and you start to feel self-conscious about the way you look. There are times when you might need to go on a financial diet, as well. Here are the symptoms that you might want to reel in your spending:
1) You are considering or getting payday loans and cash advances from your credit card regularly. These high-cost emergency loans can be signs that you are living paycheck to paycheck – or worse.
2) By the time payday comes around, you are out of money or almost out of money. If you are just making it to payday, any emergencies can put you over budget easily.
3) You shop almost every day. If you shop a lot and tend to shop when you are emotional, you may have an addiction that could be hurting your finances.
4) A big part of your monthly budget goes towards loan payments. If you are spending a lot of money on personal loans, car loans, credit card payments, and other debt payments – to the point that you have to scrimp in other areas of your life – you have too much debt.
5) You worry about money a lot.
6) You have no savings for the future or for an emergency.…