1. You decide to have children, but you are financially unstable
If you plan on raising kids properly, you need to have financial stability, and enough time on your hands to do it properly. Without a stable financial state, you may be setting a bad role model for them. After all, the apple does not fall far from the tree, and financial suicide is likely to be inherited.
Being able to provide for your child’s health care, clothing, education, and so on is not cheap (over a lifetime you may end up spending millions), but necessary for a brighter future. Take these expenses into consideration when you plan on raising children. If you truly want to have a healthy family, prioritize your career, and use your desire to allow your ambitions to properly bloom.
2. You are financially dependent on other people
Our friends and family are always willing to help, however going through life as a charity case is definitely not the way to live. Everybody has his or her boiling point, and no one will tolerate your incompetence forever. Sooner or later, your relationship with your loved ones will get worse if you do not start doing something productive with your life.
When you borrow money, do everything in your power not to get into the same situation again. Calculate how to lower your expenses, think about what you can do to earn some extra cash. To say it bluntly, you need to realize that you are in a serious problem.
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3. You start settling your debts by turning to money loans
Regardless of how difficult your financial situation is, you must never allow yourself to settle your debts by turning to payday loan companies. These are just seemingly easy solutions, meant to lure you in and deplete your finances faster than you think. These companies are very widespread and they are extremely profitable. If you want to get out of debt, this is not a solution – you will only end up owing more money. Any financial adviser will tell you the same thing. These are just quick solutions that sound appealing in order to masquerade the intentions of completely draining your budget. Settle your debts by using any other alternative.