In life, we may encounter various challenges and difficulties, and changes in our financial situation are often one of the most intuitive feedbacks. Here are 20 signs that a person may be getting poorer, and understanding these signs may help us adjust our course in time to avoid financial hardship.
1. Consumption exceeds income: often making ends meet, resulting in debt accumulation.
2. Lack of savings: Without emergency funds, there is nothing to do in the face of emergencies.
3. Rely on credit card consumption: In order to meet the immediate desire for consumption, credit cards are frequently used, and the interest paid is gradually increasing.
4. No investment: lack of planning for future financial growth, no investment or improper investment.
5. Borrowing money from others frequently: In order to maintain basic living expenses, you have to often ask relatives and friends for help.
6. Impulsive shopping: There is no clear shopping plan, and I often shop impulsively.
7. Lack of financial planning: There are no clear financial goals and no plan to take to achieve them.
8. Usury: In order to solve the problem of short-term funds, usury is used, which leads to an increasingly serious debt problem.
9. Ignoring bills: Late payment of bills and ignoring fines lead to additional expenses.
10. Irregular life: Lack of regularity leads to health problems and inability to manage finances effectively.
11. Neglect of insurance: Without proper insurance coverage, once an accident occurs, it will lead to huge economic losses.
12. Negative attitude: Negative attitude towards financial situation and lack of motivation to improve.
13. Lack of additional income streams: Completely dependent on a single income** and no attempt to add additional income.
14. Over-dependence on others: Financially overly dependent on family or partners and without an independent financial plan.
15. Lack of self-improvement: Not investing in self-improvement and learning new skills limits the possibility of increasing income.
16. Ignoring financial education: not interested in financial knowledge and neglecting to improve financial management ability.
17. High life pressure: Constant life pressure affects work and income, forming a vicious circle.
18. Won't say "no": Unable to refuse unnecessary consumption and borrowing, resulting in an increased financial burden.
19. Lack of attention to details: Failure to pay attention to details in daily consumption and bill management leads to unnecessary waste.
20. No long-term perspective: only focus on the immediate financial situation, lack of long-term financial planning and preparation.
Recognizing these manifestations and adjusting in time is the first step to avoiding economic hardship. By establishing healthy financial habits, such as regularly reviewing our finances, creating an emergency**, and investing in our education and upskilling, we can gradually improve our financial well-being and move towards a more affluent and secure life.