Six signs you have a bad relationship with money

Life has always been about relationships. Humans are naturally social beings and we need each other to survive.

Relationship with others is very important but if you think about it, we also have relationships with the things around us. For example, if you have a good relationship with your house, you respect it and keep it clean. If you have a good relationship with your car, you value it more and drive more carefully to avoid getting into petty accidents.

In similar manner, this article will show you the link between you and your money. These are the major signs that you might have a bad relationship with cash.

1.You spend more than you can afford

In recent years, social media has given birth to the ‘flexing’ trend where you purchase things so that you can look like you’ve made it in life. If you do a little bit of digging, you will find that many of the people who flex too much are actually broke.

Spending more than you can afford and having a hard time saying no is one of the major causes of financial crises. Don’t feel bad when you have to cancel dates or when you have to return items back on the shelf to avoid making this serious financial mistake.

2.You’re constantly in debt

Being in debt can cause very many sleepless nights. You will be receiving alerts and calls from your friend who you promised to pay back, an app you took a loan from or the bank, which is a more dire case.

This is where being on time matters most. If you’re constantly missing deadlines and short on cash when it comes to loans, you have a terrible relationship with money.

3.You listen to every piece of advice

There are thousands and thousands of financial tips around us. You can bet than within that number, there are many who literally don’t know what they are talking about.

It is good to get some blueprint ideas before making decisions but not everyone has good intentions for you. If you’re lucky enough to escape bad advice which could really have lifetime consequences, you’re lucky.

From now on, you should always do a deep background check on advisors to gauge whether they’re fit to give anyone advise, look into different opinions and really take time to do your own assessment.

4.You never spoil yourself

Delayed gratification is a great way to make sure you’re financially straight. But this backfires when you’re constantly being cheap even when you’re making enough money and you’re not in debt. Part of working hard is rewarding yourself. Rewarding yourself is a form of self-love and it gives you motivation to work even harder.

In short, don’t be that person who uses sugar way past its expiration date because you want to avoid spending on a new packet or someone who wears a pair of shoes until they’re extremely worn out before considering a new pair.

5.You spoil yourself too much

If you’ve found yourself saying ‘I’m just spoiling myself’ way too many times, there is a problem. Tough financial times like this COVID-19 season has proven that you need to prepare for the worst so that you’re in a better position to absorb anything that comes your way.

You need to stop using ‘spoiling yourself’ as an excuse to spending more money.

6.You haven’t made any financial progress

Working for so many years and having nothing to show for it is an unfortunate situation. This can be avoided by being wiser through savings and profitable investments.

Saving is preached often and it’s very important for future goals. You can also choose to invest wisely in things that will increase in value so that you can generate wealth.

Be more careful with your money and don’t quickly spend everything as soon as you’re paid. If you doubt your self-control, engage in the services of a financial advisor and sign up for a saving or investment plan.