5 Signs Your Spending Is Spiralling South

Your head is pounding and you have shiny beads of sweat dripping cautiously down your brow. It’s the moment you’re opening your credit card bills and you can’t quite believe how you got to this point. Now is the time you’re starting to realise that your spending habits are spinning out of control. If you haven’t experienced that enlightening moment yet, here’s a few things to look out for. Get your finances under control and recognise the alarm bells when you hear them.

You Have Lost Track Of Your Spending

You know your bank balance is continuing to get lower, but you have no idea how it has got to this point. You live your life without really thinking about the value of your hard-earned cash. There is no way for you to keep a record of what you’re spending your money on other than your empty pockets.

Solution: Start a diary to help you log each penny coming out of your purse.

Your Debt Is Higher Than You Thought

If you have finally got round to assessing your bills you may need to consider using a debt consolidation calculator. This will help you to measure variables with your personal finances so you can arrange a plan to combat the debt in manageable amounts. You may need to chat with an expert if you’re unsure how to approach paying off any debts that have built up.

Solution: Seek help from a professional and reputable company and choose the right option for you.

You Can’t Afford The Basics

You may finally have reached the lowest point when you can no longer fork out for a sandwich at lunchtime. You have found yourself scrambling for spare changes in your pockets so you can get to work in the morning. These are things you should need to think twice about, so you really need to take action if you are struggling to afford everyday necessities.

Solution: Set aside a monthly budget so you don’t have to go without your daily essentials.

You Ignore Your Money Problems

Often ignorance is bliss. It is until you have no way of paying back the money you have spent over the years and then you’re in big trouble. You may forget briefly about money trouble you’ve got yourself into, but you can’t push it to the side forever. Soon it will come blaring out in front of you so loudly that you won’t be able to escape it.

Solution: Take ownership of the debt you have built up and be honest with yourself.

You Have Stopped Caring

You are no longer mindful when you reach for your credit card and you’ve started allowing yourself to be reckless. Not only are you ignoring your financial issues, but you’re now enabling them to get worse and worse. You need to take a step back and re-evaluate what you are actually doing. You are setting yourself up for a lifetime of upset and impossibilities.

Solution: Start to care and plan for your future. As soon as reality hits you, it will become easier to be aware.

You are not alone when it comes to money problems, so don’t feel embarrassed about getting help or advice. Face your problems head-on and you will come out stronger in the end.