8 Things Keeping You From Fixing Your Finances

What’s keeping you from fixing your finances?

Despite strong economic metrics over the last decade, only 28% of Americans are considered financially healthy, 17% struggle in almost all financial aspects of their lives, and another 55% are struggling with some financial aspects of their lives.  Here are the most common things keeping you from fixing your finances and what you can do about it.

1. You Don’t Know You Have a Problem

The first thing that might be keeping you from fixing your finances is that you don’t know you have a problem.  Once you identify the problem, come up with a plan to work toward a better situation. You can reach out to family, friends, or finance professionals for help.

2. You Don’t Know Where to Start

Another reason you may have neglected fixing your finances is that you simply don’t know where to start.This is a common issue, where an individual is so overwhelmed they would rather ignore it than take the stress of working through the problem. If you need more of a hands-on approach, we suggest consulting with a financial professional.

3. You Think It’ll Work Itself Out

Yet another common reason people don’t fix their finances is they think it will work itself out.  The first thing you need to do is figure out where you stand by building a budget. Figure out how much money is coming in every month, how much is going out, and what your debts are.

4. You Feel Stuck

Maybe you know you have a problem with money, maybe you know exactly what that problem is, and you know what would solve it. Consulting with a financial professional or seeking advice from family and friends can help you discover new and better options.

5. You’re Banking on Money

While many may be hindered from fixing their finances because they feel stuck, others may feel free to let their finances run amuck because they’re banking on getting a chunk of money at some point. Don’t bank on winning money to solve your finance problems.

6. You Have Regrets

On the other hand, maybe what’s keeping you from fixing your finances is that you’ve made mistakes with your money and you have regrets. Realize that the past is over and the future hasn’t happened yet, all you have is now to begin making the changes you want to see.

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