Money seems to be the ruling factor in our lives. If you have enough of it then happy days! If you don’t then it’s a constant uphill struggle. BUT if you still don’t have enough some of us still find a way to indulge masking our lack of funds with credit cards and store cards whilst measuring our life against whether we had a good time on the extravagant holiday, casually ignoring the overdue bills. If you find yourself in a pickle with your finances every month, here are 5 very obvious and straight forward reasons you’re living the champagne life on a can of cider budget!
1 – A savings account is a myth to you!
Having a savings account that you actually use is just common sense. It helps out when you need any emergencies acting as a little cushion. If you live and die by your wages alone without any backup solutions, then this could be a sign that you’re financial out of your depth.
2 – You can’t pay bills on time
A clear sign of overspending is the backlog of unpaid bills. It’s not a nice feeling being chased by companies demanding money you owe them. So maybe cut back on the luxuries and budget enough cash to avoid those scary red letters.
3 – Your credit score is a joke!
Late payment of bills can result in a bad credit rating. Consumer debt lowers your score and hinders you in the future. Those of you who rely heavily on credit cards can kiss goodbye to having any luck in securing future credit. Try paying off more of the debt instead of the interest, and more importantly on time! Try the BBC Debt Test to see how you would appear to a credit rating agency.
4 – Always borrowing money
Have you become that one person family and friends run from because you try to shoehorn in a loan request every time you speak to them?! Quit asking for cheeky handouts from those close to you as it will annoy them. If your wages do not fit the lifestyle you enjoy, adjust your lifestyle! Simples.
5 – Keeping up with the Joneses
Trying to keep up and stay up with your friend’s luxury lifestyles can be exhausting… and can financially ruin you! By all means enjoy yourself and do not live a miserable existence because you have to save every day, but just be aware that your friends do not care if you have designer gear. Nobody cares except for you! And you caring about self-image is just making you broke!