12+ Signs That Someone Is Bad With Money

By Sophie 8 months ago

1. They're Always Asking To Borrow Money

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Receiving a text message from this person may fill you with dread. No matter what the relationship is between you, they're not always a good person to hear from. They're always asking friends and family if they can borrow money, and usually have a backlog of reasons why they need it.

2. Payday Loans

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The spiral of payday loans is dangerous territory. Their sky-high interest rates makes most people avoid them, however their immediacy make them attractive to someone who is bad with money. They don't always consider the long-term effects of monetary decisions, which lands them in frequent hot water!

3. They Owe Money At Any Given Time

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There isn't a time when this person is debt free. They borrow from Peter to pay Paul and rack up debts from many different sources to the point where they can't remember who they owe money to. They often find themselves being chased for money as they can't keep up with payments, so don't expect to be paid back immediately by these people.

4. They Live Like Royalty On Payday

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Payday to them just means an influx of money, they suddenly feel rich and don't think about the rest of the month. They'll splurge and spend most of whatever is left after they've paid some debt, and find themselves in a pit until the next payday. They never learn from their struggles.

5. They Own Random Stuff But Can't Afford Necessities

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A person who is bad with money has their priorities all wrong. They will spend money on things that they want and not what they need. Going shopping with them can either be a nightmare or very fun, depending on how much your care about their financial situation.

6. They Don't Understand Taxes

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They don't understand much when it comes to numbers, actually. Either that or they are willfully ignorant. They just can't seem to comprehend that they may owe a larger figure than what they initially think they do, and they find themselves constantly overspending.

7. Letters From Debt Collectors

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You will see a pile of letters that have been ignored whenever you go to this person's house. They are so good at burying their heads in the sand that this kind of mail doesn't faze them, and they can toss them aside quite easily. If you do visit, expect to call them when you arrive as they have stopped answering knocks at the door.

8. They Never Check Their Bank Balance

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Speaking of burying their heads in the sand, this person prefers not to think about how much they have in the bank and will continue to spend despite the number going down. Their card is declined so often that they're no longer embarrassed - they just pray each time they have to pay for something.

9. They Have No Savings

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These people live in the present, which isn't always a bad thing if you can also do a bit of forward planning. Unfortunately they seem to be incapable of this and live like all their money is to be enjoyed as soon as it's received. They've had to be bailed out of so many situations do to a lack of savings!

10. Always Paying Overdraft Fees

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For these people, overdrafts are just another lot of cash to spend. They don't view them as emergency funds and often have more than one with different banks. They're being charged daily and refuse to think about how much the charges are adding up. They're quite happy in their little bubble of available funds.

11. They Become Suspicious When Discussing Money

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Despite them living in denial, they know deep down that they are terrible with money. Often this can bring on feeling of shame which is noticeable if you ever start discussing money with them. They'll go quiet and try to change the subject; they don't want you to know their financial situation as it usually quite scary!

12. Their Rent Is Always Late

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Paying rent should be a priority, however seeing as it is a large sum to pay every month, some people always struggle to pay on time, especially if they can't budget properly. They risk eviction if they haven't experienced that already, and rely on the sofas of friends and family as a back up.

13. They Spend More Than They Can Afford

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It can be really tempting to overspend when you really want something, however people who are financially sensible will first consider whether or not they can afford it. We all want a nice life but it's important that we don't get ourselves into debt when trying to fulfil it.

14. Always Making Excuses

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When they told you of their hardships when you started lending them money, it's likely that you felt sympathetic and let them off. The sympathy doesn't last though, and you will begin to wonder how they keep coming up with so many different excuses - they're obviously not all truthful!

15. They Never Split The Bill

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If you go to dinner with people who are bad with money, always, always make sure you can afford the whole bill. They'll either tell you beforehand in which case you can decide whether or not you want to pay for them, or they'll conveniently lose their card just as the waiter comes over. They'll promise to pay next time!

16. They Refuse To Tip

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Tipping, for them, is unnecessary spending. They prefer to keep small change for themselves, as though they haven't just let you pay the bill. Expect this cost to come out of your pocket too if you do go to dinner with them. You'll find the waiters aren't very forthcoming to people who are bad with money.

17. Lies About Money

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It's unfortunate that you can't always trust what people who are bad with money say. They'll either lie because they're ashamed of how irresponsible they are, or they will lie to try and get people to give them money. After so long, people become wise to the deceit - they don't get away with it for long!

18. No Assets

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To gain any capital, one must save money in order to make investments. People who are bad with money regularly ignore the bigger picture and long-term rewards, they'll spend all of their money now and think about the consequences after. If only the consequences would change their spending habits.

19. Spends A Lot With Nothing To Show For It

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You'll often wonder what these people spend their money on. They seem to be always broke, and yet own no useful items. They will often buy lots of small things so they don't feel as though they are spending much, little do they realize it is all adding up!

20. They Can't Budget

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Budgeting for them is an absolute minefield, they just don't seem to realize how much simply existing costs! They will get too excited about receiving money into their accounts, and spend without thinking how much they will need to live each week. They only seem to think of how much money they can spend right now!

21. Expensive Lifestyle, Low Income

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People who are bad with money will just buy what they want, while they can, until their card declines. They don't think how their current lifestyle may be affecting their future, as the experience one, maybe two exciting days a month. Their creditors may look on with fury!

22. No Plans For The Future

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Future plans often cost money. Whether it is buying a house, having kids, getting married or travelling the world, they usually require some savings. If someone is bad with money, they don't realize what a bit of discipline can achieve, and so never think to plan for the future.

23. Is Always Shocked By The Cashier

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People who make shopping lists tend to be good with budgeting - they plan ahead so that they know exactly what they need and roughly how much it'll cost. Someone who is bad with money however, tend to pick up whatever they want in the mall without taking into consideration how much it might cost. They always end up overspending.

24. Optimistic About Investments

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There are so many scam investments around at the moment, and someone who is no good with money may be drawn into the idea of being paid without having to work. It's these kinds of people who end up being taken for a ride by these companies as they offer seemingly great deals! The opportunities sound too good to be true, and they usually are.

25. Credit Card Debt

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If they're fortunate enough to get credit, those who aren't good with money will get as much as they can! Usually it comes from a lack of understanding of interest rates, and they will struggle to pay off everything that they've borrowed. They're constantly being hounded for repayments, as they sink further into debt.

26. They Owe Out Most Of Their Paycheck

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When they do get paid (assuming they work), they rarely have much left for themselves as each month they will owe out most of what they earn. They've usually borrowed money from friends and family, as well as having serious debts to pay. It almost feels like they're working for free!

27. Overspend At The Bar

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If they're bad with money without alcohol, then imagine how they are if they're tipsy? Those who are bad with money might become more generous when drunk, buying drinks and shots for everyone! They usually face horror when they wake up the next morning and realize they've spent most of their rent money...

28. No Understanding Of A Good Deal

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You've seen them - the offers at the mall that are usually sitting by the cashier. The "Buy One Get One Frees" and the "Buy Two For Ten Dollars". You might be drawn in by their enthusiastic taglines but don't be fooled, you're not always getting a good deal. You often don't even need two of what's on sale. Those who don't understand the value of money are suckers for sales!

29. They Impulsively Book Trips

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Travelling makes for very exciting adventures, however there are so many hidden costs to think about. Someone bad with money may impulsively book a trip without considering whether or not they can even afford it. It's one thing affording the flights, and another being able to pay for your hotel and food!

30. Refuses To Barter

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Bartering is such a common way of shopping in many cultures, and now with the world of online shopping, it's becoming the "done" thing there, too. Even when it's appropriate, someone who isn't great with money will refuse to barter as they don't always value saving money if they can.