1. You can't afford to pay your bills
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Not being able to pay your bills is a pretty serious sign that you're in trouble with your money. Missing bill payments or just not having enough money to pay them in the first place can lead to massive issues later down the line. Late fees and fines will continue to pile up, and your problems will only continue to grow if you can't make your bill payments in time.
2. You're maxing out credit cards
If you find you're constantly maxing out on your credit cards - alarm bells should be ringing! This is normally a sign you are overspending, and are living way above your needs. Maxing out on credit cards can also cause you to be paying off serious amounts of interest over time, which can be way more than you borrowed in the first place. Make sure you're spending carefully.
3. You're making impulsive purchases
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We are not saying that you can't enjoy spending your money, we all like to buy new things. But spending your money carelessly and impulsively can be a bad sign. Everybody has things they must pay for, bills, insurance, mortgage etc, but if you're going out buying loads of new clothes before putting money aside for important things, that's a good sign you have money problems.
4. There's a sudden change in your spending habits
If you have noticed yourself, or even a loved one spending more or less than they usually do, they may be having problems with their money. A sudden change in spending habits is a good sign somebody has lost control of their finances and needs serious help. Whether they are overspending or underspending, the results can be very harmful.
5. You avoid talking about money when asked about it
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There is nothing wrong with not wanting to talk about your finances, however if the topic is causing you a lot a discomfort and is raising suspicion from your loved ones, it could be sign your having trouble with money. If you notice somebody acting funny when money is mentioned, maybe try support them, otherwise it can lead to serious breakdowns in relationships.
6. You've recently been denied credit
Being denied credit should be your wake up call to sort out your financial problems. being able to get credit is extremely important, as you can make payments with it to help improve your credit score. This only works however if you pay it back on time and in full.
7. You're cancelling plans
We all have to cancel plans every once in a while, but if you're the person who's always letting the group down, perhaps you could be struggling with money. Constantly cancelling plans could be sign that you're having financial issues or that you're embarrassed of your financial situation and don't want your peers knowing.
8. You don't know how much money is in your bank
If you're filthy rich and genuinely have no idea how much is in your bank, then this doesn't apply to you. However, those of you who don't earn billions, not knowing how much money is in your bank can be a problem. You have to know how much you have in order to pay your bills and spend within your limits. Not knowing what's in your bank can lead to disaster!
9. You don't save money
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Not saving money equals spending too much money, spending to much money equals problems with money. Not being able to save any respectable amount of money is a clear sign of money problems. Of course, not everybody can put aside thousands, but saving money is something everybody should be able to do regardless of income.
10. Decline in your mental health
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If your mental health is taking a noticeable decline, a larger factor such as money could be coming into play. Anxiety and depression are two very common signs that a persons mental health is rapidly deteriorating, and if these illnesses are a result of finical trouble, you could have a serous money problem.
11. You're ignoring financial statements
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Once you start ignoring financial statements, your finical troubles will start to grow exponentially. We all get that sinking feeling when we look at a statement in the post, but putting it aside and not dealing with it will only come back to haunt you. Make you sort it straight away!
12. You're considering bankruptcy
Once you reach the point of considering bankruptcy, you definitely have a serious money problem. At this point you need to seek help immediately and find a credit counsellor. They will help you figure out the best way forward with the least amount of repercussions.
13. Your credit score is decreasing
If your credit score is dropping, you are overspending! Just one missed payment can negatively affect your credit score. In addition, having a low credit score can make it much harder for you get credit when you may really need it, not to mention you will be paying back at higher interest rates. Make sure you keep you credit score as high as possible!
14. You use payday loans
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An instant red flag for money problems are pay day loans. Anybody who needs money that quickly has either a big spending issue or is in serious debt. Over the short term, this loans may seem like a quick way out, but with extortionate interest rates they come with can quickly lead to disaster.
15. You're afraid to use your card in public
Some people with money issues have no fear in using their card, however the ones don't know whether their card is about to decline or not will be terrified of using it in public. If you're out with your friends or on a date, and you know you have financial troubles, the embarrassment of having your card declined will make you feel terrible.
16. You're constantly borrowing off family and friends
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Relying on your close friends and family for money is a bad sign. It may seem like a good idea, you're basically getting an interest free loan, but the tension of having to pay them back can break apart relationships. Taking money from friends and family is not worth the risk, you're much better sorting out your spending problem.
17. Money causes arguments in your relationship
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Living as a couple isn't always going to be perfect, but if you're fighting over finical situations regularly, you could be in trouble. If you're fighting over your credit payments, or not having enough money saved, then you definitely have a problem and need help!
18. You've taken money from your retirement account
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Taking money from your retirement account to cover everyday expenses can indicate you have a problem with money. That fund is designed to cover you once you're retired, and suppose to support you. Taking from that nest could leave you in a dangerous position in the future!
19. You're losing sleep over finances
If you're losing sleep over finances, you defiantly have money problems. Obviously we all have some stress when it comes to money, we have to feed ourselves and others, we need a roof over our head, but to be staying awake at night and not sleeping is a sign you need serious help financially.
20. You only make the minimum monthly payments
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You probably think you're outsmarting the banks by paying the minimum amount on your credit statement each month - in reality you're far from it. By paying the least amount, you. are only going to end up paying your money off for longer, which is only going to result in the banks making more from interest off you.
21. You don't have a budget
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Not having a budget for your spending is a huge sign you have issues with money. Budgets also allow you to spend within your capabilities, they stop you getting into debt and help you save up money. Spending constantly without any cap will quickly drain your bank, leaving you in massive trouble.
22. You refuse to handle money
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People who suffer from Chrometophobia, the fear of spending money or even being around it, will hate the idea of handling money. The sight of cash itself can trigger them emotionally and results in their everyday activities being a huge challenge. If this is happening to you, you have a money issue.
23. You can't stop gambling
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Gambling is a harsh and crippling addiction, and almost always leads to serious financial loss. People who constantly gamble everyday will always have issues with money. Whether thats gambling away all their assets or wasting their savings on the roulette table. If you know anybody who's aways gambling, make sure you get them the help they need.
24. Shopping relaxes you
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Those of you who see shopping as a form of "relaxation" or "therapy," you must question yourself why? Finding comfort in spending money unnecessarily on items you probably don't need is a clear sign that you have issues with money. You may have a stressful job, or messy kids, but spending money unnecessarily isn't the best option.
25. You have high-tech gadgets all the time
Do you find yourself always needing to have the latest iPhone, or the latest Dyson hoover? If you do it may be a sign you're having troubles with money. Expensive purchases like these can be great but your everyday life won't change dramatically if you have a cheaper, older model that can save you hundreds of pounds.
26. You're counting down the days until payday
Don't get me wrong, we all can't wait for payday, everybody loves to get paid, but if you have spent all your money for the month and are serving until pay day you have a problem. Times may be tough and that is understandable, but it's about being smart with your money and not blowing through it before your next pay day.
27. You have clothes still with tags on
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When you bought your clothes they may have been a bargain at the time, but having clothes still in your wardrobe with tags on is a massive waste of money, and can be a sign of having a money problem. If you do this, you're buying clothes even when you don't need them!
28. You miss out on things you enjoy
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If you're finding yourself constantly avoiding activities you enjoy just because you're conscious of spending problem, you have an issue with money. Skipping social events such as the cinema or a going playing crazy golf, just down to the fear of spending money, is a big sign you have a money problem.
29. You hide purchases from others
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A common sign that you are hazing trouble with money is when you hide purchases from friends and family. If you're married, you should be open about where your money is going and what you're spending it on. So when you start hiding what you buy it can be an issue.
30. You're spending more on takeaways then groceries
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If you notice your bill for takeaways is exceeding your grocery bill, you have to realise you have a spending problem. Fast food should be a treat, they aren't cheap and are also normally unhealthy. If you are short of money but are eating out every night of the week, you should definitely reconsider your priorities when it comes to food.