It’s not unusual to make the occasional late payment on a bill, or treat yourself to a frivolous purchase every now and then — We all have done it at some point in our lifetime, and perhaps even a few times too many.
However, there are some people out there with FDD —Financial Deficit Disorder, who just can’t seem to break the cycle of making a tangled mess of their finances. Maybe you know who you are, maybe you don’t.
Here are 10 signs that indicate if you might suffer from Financial Deficit Disorder.
You are living paycheck to paycheck.
You’re constantly late paying your bills, from your car note to your rent or mortgage, and store charge cards.
You borrow money from your family, friends, or even mere acquaintances.
You’re paying service fees on your checking account because it is constantly dropping below the minimum balance, or you’re bouncing checks — or both!
You’ve taken out credit in the name of your children and your pet.
You park your car away from your home in an attempt to avoid repossession.
You change your phone number at least once in a year, screen your calls, or keep a separate number just for close friends and family so that you can avoid calls from bill collectors.
You and the pawn shop clerk are on a first-name basis.
You’re more familiar with the inside of the payday loan store than you are with your local bank.
You don’t have an emergency fund and a very low, or no savings account.
If three or more of the above apply to you, you probably have Financial Deficit Disorder. But don’t worry, there is still hope for you!
Next week I’ll give tips to help you straighten up your financial disorder!
Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.
Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.
All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.