Eight indicators of your financial situation

Financial Situation
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There are “red flags” to which attention should be given time to make corrections…

We’ve all forgotten to pay bills on time or carry in credit lines more expenses than we should. There are some “red flags” to which you should pay attention to realize that if you do not make corrections, have financial problems. While some warning signs are a proven, from the economic downturn and market volatility of recent years, the formula is best to be prepared for all eventualities.

As we are always concerned about your financial health and prosperous business success, here we give you a list of indicators that will serve to analyze whether you are on your way to financial difficulties and to find out what you can do to address them. Record and prepare…

  1. You do not have savings for emergencies

The recommended rule indicates that this action must have the equivalent of three to six months of your income. It must be protected in a checking or savings account. No savings have higher probability of a debt to the credit card potentially difficult to cancel in case any contingency.

Read also: 7 Useful attitudes to eliminate debts

  1. You usually pay bills and penalties

Pay off debts with delay usually is an indicator that your income is not enough to solve your regular expenses, or that do not have a bill canceling system that works for you. The delay can cost you not only money and time but can generate a low credit score because creditors communicate the arrears to most credit bureaus and that information is added to your credit report, which means you’ll less likely to get approved a loan in the future. Organize your payments and make a system to settle your bills.

  1. You possess overdue taxes and unpaid

Delayed tax payments can start as a result of something manageable appearances. However, you should finally settle accounts with the government and have to pay your taxes or face criminal prosecution. If you know that you owe taxes, a good idea is to determine the best strategy to meet outstanding debt and catch up. You must also negotiate a payment plan or a reduction in interest and penalties.

  1. You do not have a budget

If you’re not sure how neither you nor accounts with a well devised plan to know how much will spend is likely to waste money, generate debt and do not save and invest for future financial goals. You better start with developing a budget that works for you.

Read also: Get Rid of Your Credit Card Debt Collection By Eliminating Your Debt

  1. Weigh liens on your property

A lien is a legal claim against someone can present your property or your property to ensure that you return the money that you owe. The taxes are detrimental to your credit report because they decrease your credit score, which affects their ability to obtain attractive financing terms. If you hear of any lien created on your property or goods, contact who has brought to create a payment plan, release the lien and remove it from your credit report.

  1. No financial documents you check

Information that you receive is important and you should be aware of what these documents say. You should know whether the accounts are accurate and whether the terms of your loan or your investments have changed. Information is the only tool you have to make wise decisions about how to make changes to go ahead and decide if you want them.

  1. You refused a loan

If you applied for a credit card or a loan and are not to be granted, it is likely that you have a credit score too low. This means that the lender has reason to believe that you represent a credit risk. In other words, doubt you have ability or intent to cancel the loan. Worry about improving your credit rating.

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