5 Signs Your Finances Are on the Verge | HomeFirst

5 Signs Your Finances Are on the Verge

Balancing The Account
A personal financial crisis does not happen overnight. It takes years in the making. So how do you know if you are on a financial road of destruction or just having a minor mishap?

Although bankruptcies and foreclosure numbers have begun to go down, there are still many people at risk. The only way to protect yourself is being aware of the red flags that are signals that you may be trending towards a financial crisis. Here are five red flags that you can use to build yourself a financial warning system:

  • You keep overdrawing your checking account
  • Your credit card payments are dwindling
  • Your emergency fund reads ‘zero’
  • You have to choose which bills to pay
  • Your credit score is below 620

Here are more details on these important red flags and tips on how to stay on top of your finances. If you are guilty of two or more of these red flags you could be on a route of financial jeopardy.

Photo Credit: Ken Teegardin

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