6 alarm ‼️ overspent. 💸✋

The Czechs gave sure of the "overpayment alarm" to watch out for. ‼️

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1. Income starts not enough to meet expenditure. 💸

The first sign to be aware of is that the income is not enough to pay. A skilled person who manages money will save every month, even if it is a small amount of money, but if the money is overspent, they will not be able to save until the end of the money.

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2. Start making payments late or short of paying ❌

The next overpayment sign is slow debt repayment or lack of installment, especially credit card swiping too much to pay the debt. If you don't pay 3-4 of your annuities, the increase in interest is as much as the principal, so avoid paying your credit card debt slowly or try not to incur credit card debt.

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3. Money rotation is starting to have problems. 🔥

If there are already many debts, such as house debt, car debt, and then start to incur more debt from overspending, such as refinancing cars to refinance money to buy new cars, while refinancing old car debts, and refinancing the house and paying car annuities, it shows that the money is getting into trouble. If in this situation, you should find a way to close the debt. Do not refinance the debt because it will cause an endless cycle of debts.

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4. No money to spend on daily life. 💬

If you spend too much money on unnecessary debt to affect your daily living, such as eating 70 baht per meal, but reducing your rice to 20 baht per meal and having to suck at it, it's a sign that your financial condition is not very good, and not eating enough food each day is likely to deteriorate in health and may have to pay for medical care, so that you may incur new debts to heal.

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5. Start borrowing money for others. 👥

The classic warning sign of the problem of overspending is that there is no money to borrow money from your peers, or it can spread to borrowing money from your first acquaintance. Usually, if you borrow money from others, it should be the only reason to spend money, such as a family in a hospital or having to pay for your child's tuition.

If you borrow money from your peers often without need and do not pay it back, it will affect your relationship with your peers when there is a real financial emergency, and then no one wants to lend it anymore.

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6. Informal loan 💬💸

After all, if the money is overspent until the loan is no longer sufficient in the system, it is inevitable to solve the problem with informal loans. As everyone knows, informal debt, interest rates are very high, can reach 1,000% per year. Even if you sell your home, sell all your assets, you cannot close your informal debt.

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# Financial issues # Manage debt # Saving money # Overspend money # Savings