For many people, money problems only show up when something major happens, like an unexpected expense, a sudden job loss or a maxed-out credit card.
But as Ramsey expert Jade Warshaw pointed out in a TikTok video, there may have been red flags along the way. Here are key warning signs that your money isn’t as stable as you think.
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You Shove Your Bills Away
According to UT Federal Credit Union, money is one of the most common causes of stress for Americans and a common sign of financial stress is anxiety about opening mail. Unfortunately, shoving the bill in a drawer doesn’t make the problem or the stress go away. In fact, it may make the matter worse. Instead of avoiding the situation, deal with it head-on. Open mail, check statements and do a real-time money check-in.
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No Savings
Another sign of money troubles is not having money saved, said Warshaw. While everyone’s financial needs and goals may differ, the experts at U.S. News & World Report suggest having three to six months of expenses saved. The most important thing is to start. Set a goal of $1,000 and work from there.
You Avoid Talking About Money With Your Spouse
Avoiding talking about money with your spouse may be another sign that your money isn’t as stable as you think. As reported by Forbes, data showed that 28% of people hide purchases from a spouse and 21% have never discussed the subject of debt with their partner. To get the conversation started, experts with the publication suggested scheduling the talk and knowing your “why” before you go in.
You Need a Co-Signer
A major red flag that a person’s finances are not in order is having to have someone co-sign their loan. According to Capital One, a person may need a co-signer if they have a low credit score or a high debt-to-income ratio. To improve a low credit score, make sure bills are paid on time, check for any inaccurate items and work to pay down credit cards with a high balance.
You Don’t Fill Your Gas Tank All the Way
A surprising sign that a person’s finances may be in disarray is if they don’t fill their gas tank up all the way. Not filling up the gas tank all the way may not only be an indication of money problems, but it may also add wear and tear to the vehicle.
According to AAA, driving on low fuel can cause the fuel pumps to work harder or damage the fuel filter. Instead of cutting costs by only filling up a little, consider eliminating unused subscriptions or reducing other non-necessity expenses.
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This article originally appeared on GOBankingRates.com: 5 Key Warning Signs Your Money Isn’t as Stable as You Think, According to This Ramsey Expert
