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Are Your Finances Spinning Out Of Control?

By Erik Folgate

If your finances are heading in the wrong direction, you should be able to tell. Free Money Finance has five signs that you’re living beyond your means. The first step to becoming financially fit is recognizing that you need to change your financial habits. If you’re oblivious to the fact that you need financial help, then read those five signs. If more than one of them applies to you, then you need help.

The good news is that you’re never too far gone to change your financial position. The bad news is that it takes hard work and sacrifice to change your financial situation. You will need to:

My favorite sign from FMF is the one about more than 28% of your income going trowards your house. Owning a house isn’t always a blessing. A house can easily put you in financial hardship. Millions of Americans are figuring that out the hard way right now. If you need financial help, get out of the denial stage. Meet with a fee-only financial planner with the heart of a teacher. Map out a route to financial success. The quicker you realize that you have a problem, the easier it will be to get out of the hole that you’re already in.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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