Being financially stable at your 20s or 30s is a bit horrific. Yes, that’s the right term, horrific, especially if you’re still confused about how adulthood works.
Sometimes you think that you have plenty of money to spare and then one minute after, you feel that you need to call your mom for help.
Well, I just want you all to know that you guys are not alone. I think everyone has experienced this confusing stage but how do we really know if we are financially stable or not?
For a fair warning and awareness, here are the signs that you are not doing well financially.
You keep on waiting for your salary
It’s #PayDay and you got numerous plans in your head. Do you want to order food? Want to hang out with your friends? Do you want to buy online stuff? No problem, you got plenty of money.
Five days after payday and you’re already regretting the things that you’ve done. Why did you buy those things and why didn’t you spend your money wisely. Now, you’re wondering how will you survive one more week with only Php 500 in your wallet. Yikes!
Unable to pay Credit Card bills
You think you’re responsible enough to have a credit card… yeah, you’re an adult and you know your priorities. And you’ll only use it for an emergency, right?
After a month or two… eating at a restaurant, swipe. Buying new clothes, swipe. Wow, a new gadget, swipe. Online shopping, swipe. Piso fare? Swipe.
Then your credit card bill has arrived and now you’re wondering where can you borrow some money to pay for all your bills!
You are not thinking about your retirement
Retirement? You may be young but this is the perfect time to think of your retirement fund.
But then again, you’re still young and you got plenty of time. So you didn’t give a d*mn and still go for the YOLO life. After 20 years, your old self is now on the street begging for food and money… LOL.
You don’t have a savings account
No! A payroll account does not count. It is essential for everyone to have savings account for them to create their emergency fund.
People in financial mess do not have emergency funds so they borrow money for such cases, they take a loan or cash advance, therefore incurring more debt.
You rely on your parents when you have zero balance
There’s no shame in borrowing a small amount of money for some time. But if you’re already on your 20s or 30s and have your own job and life, it’s a bit embarrassing to rely on your parents.
It can be different from others and may depend on a situation but as an adult, we need to do our best to not be a burden to our parents.
Being financially stable is a lot of hard work. It is not a one day process but it’s better to aim that goal slowly and surely rather than not having plans at all.