Signs Washingtonians have a poor relationship with money

Know for a fact if you are on good terms with your money, or if you should consider making some changes to your financial life.

Going over your budget, you might reach the conclusion that your relationship with money is a perfectly healthy one. While that might be true, denying glaring problems with your financial household could pave the way to bankruptcy in Washington. Learn just what type of relationship you have with money so you know whether it is time to change your ways or consider a new strategy.

It is hard for you to talk about money

You do not have to tell everyone how much money you make, but you should be able to talk about how you spend, invest and save your money without feeling ashamed. When you find yourself unable to even talk about long-term saving strategies (because you do not have one) or your retirement (because you have not started saving for it), it could be a red flag that you subconsciously know you have bad financial habits.

Your emotions lead you to spend money

It is not good or wise to use money as a type of emotional bandage when you are in a bad mood and need some cheering up. While buying a new pair of shoes or several books might give you a momentary flare of satisfaction, your actions might be covering up a deeper problem, one that cannot be resolved with money. Your coping mechanisms might be destabilizing your bank account, so find another way to change your mood without going into the red.

You have a lot of credit card debt

While it is okay to have a bit of credit card debt, say, less than $100, having thousands of dollars in credit card debt that you carry from month to month could be a sign that you do not know how to spend money wisely. Putting money on a credit card offers delayed payment, true, but you have to think about how much you are accruing in interest fees by leaving a balance on your credit card from the end of one month to the beginning of another.

Money consumes your every thought

It is great if you can smile every time you think about your bank account and do not worry about upcoming bills. On the other hand, you might become stressed and experience heart palpitations when you think about how much money you have in your account and worry if you will be okay until your next paycheck. Such a reaction means that you either need to find a way to make more money or change your relationship with money for the better.

Not everyone in Washington has to be on poor speaking terms with their bank account. If you feel filing for bankruptcy can change your financial outlook for the better, speak with an attorney.