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10 ways to know you are broke.

Marie Deary

Aug 22, 2023

  1. You live paycheck to paycheck. If you are spending every dollar you make, or more, you are living paycheck to paycheck. This means that you have no cushion in case of an unexpected expense, such as a car repair or medical bill.

  2. You have credit card debt. Credit card debt is a major financial burden. The interest rates on credit cards are typically very high, so you can end up paying much more than you borrowed.

  3. You have student loan debt. Student loan debt can also be a major financial burden. The monthly payments can be high, and it can take many years to pay off the debt.

  4. You have no savings. Having no savings means that you are not prepared for unexpected expenses. If something unexpected happens, you may have to borrow money or use credit cards, which can further strain your finances.

  5. You are constantly borrowing money from friends or family. If you are constantly borrowing money from friends or family, it is a sign that you are struggling financially. This can put a strain on your relationships and make it difficult to get out of debt.

  6. You are behind on your bills. If you are behind on your bills, it is a sign that you are not managing your money effectively. This can lead to late fees, collections, and even bankruptcy.

  7. You are constantly stressed about money. If you are constantly stressed about money, it is a sign that you are not in a good financial situation. This stress can have a negative impact on your physical and mental health.

  8. You are making poor financial decisions. If you are making poor financial decisions, such as spending money you don't have or taking on too much debt, it is a sign that you are not in control of your finances.

  9. You are not saving for retirement. Retirement is a major financial goal, but it is one that many people neglect. If you are not saving for retirement, you may not have enough money to live comfortably in your later years.

  10. You are not investing for your future. Investing is a way to grow your money over time. If you are not investing, you are missing out on an opportunity to improve your financial situation.

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