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.
The Federal Reserve Bank of New York's Center for Microeconomic Data today (November 15, 2022) issued its Quarterly Report on Household Debt and Credit . The Report shows an increase in total household debt...
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.