Personal finance is an important area of life people cannot afford to joke with, because everything about your life (short, medium and long term) may depend on what happens with your finance. Your investment, health, mortgage, and even retirement plans are directly linked to your finances and this is why you must try as much as possible to keep your finances in great shape.

Unfortunately, a lot of us are walking a tightrope when it comes to our finances. How many people have actually got a firm grip on their finances? If you are able to manage your finances successfully, congratulations, but if you are not sure how well you are doing with it, the most important solution is to act now. If you are still not sure whether you need help with your finances or not, we have come up with seven pointers that should help determine where you stand.

• You Spend More Than You Earn

Spending more than you earn is a financial suicide. It would kill you in more ways than one, and drag you into a huge financial mess in the long run. If you currently spend more than you earn, you definitely need financial help.

• You are Stuck in a Debt Pile

There is no other way to put it – debt is usually a result of poor financial management decisions. Of course, people incur debt sometimes due to the luck factor, but the biggest determinant still remains a lack of financial knowledge.

• You Don’t Have a Mortgage Plan

Why won’t you have a mortgage plan? Regardless of your earning status, you should have a mortgage plan in place. Now, we are not saying you must have one after your first year in employment, although that’s not a bad thing to do as well. However, not having a mortgage plan after working for say, 5 to 10 years mean you need some financial help.

• You Don’t Have a Savings Plan for Emergencies and Future Needs

Make no mistakes about it, everyone would run into emergencies at some point in their lives. When this happens, your sure bet to solving the emergencies are your savings over the years. If you don’t have savings for emergencies, then, you do need serious help with your finances.

• You are Borrowing to Pay Bills

Borrowing is not a bad concept – in fact, the most astute financial planners borrow from banks and other credit institutions. However, when you start borrowing to pay bills, it means a lot is wrong with you financially. The only way out is to seek help.

• You Don’t Have an Existing Health Insurance

Everyone should have a health insurance in case of serious medical emergencies. Whether we like it or not, those medical situations would happen at some point in our lives, especially as we grow older. Now, imagine not having a plan for your medical needs in your old age? That would be a shame, wouldn’t it?

• You Have a Negative Credit Rating

The only explanation for having a negative credit rating is poor financial decision making. Let’s face it, we are not talking about poor or bad here, it’s negative rating and it prevents you from even accessing further financial assistance from credit institutions. The good news is, it’s not over yet, with some financial help, you can be put on the road back to recovery.

If you are dealing with any of the seven signs listed above, it means you need help with your finances. Fortunately, there are a lot of financial experts and firms who are willing to help you put your finances in order. Reach out to one of them today.