Today on #MiddayExpress: MyMoneyMondays

Every Monday on my show, #MiddayExpress, I talk about something that has to with money....saving money, making money, spending money, planning money....as long as it's got money in it,  I talk about it.

Today on the show, I gave a few signs that you can weigh yourself against to help you figure out if you have been lying to yourself about your true financial worth and pretty much, living a false life that is putting you or that has already put you in a financial rot.

The Signs i shared are:

1. You have more debt this year than you did last year
If there are more people whom you have to pay back this year than there were last year...whether its the bank, your office, your friends, your siblings or parents, you are pretty much in a financial rot. It is always better to be debt free. that way, you know that all the money you earn is for you...you are not working your a** off to pay up some debt.

2. You can not afford your rent for the year
Chances are that you rented a nice apartment and moved in, hoping that your salary would be increased or that the deal you had been chasing for months would finally get through and you would be sorted for years. Unfortunately, none of these things happened and now your rent is due and you have no idea where to get the money from. The mistake you made was to plan a life on money that you did not already have...you made real life plans based on expectations that were not cast in stone.

3. You took a loan to go on holiday
I do not even know why I have to explain this point...like seriously...who on earth does that? it is a V-A-C-A-T-I-O-N. It is that time out you take, after working hard, to go and rest and sort out some none-work matters in your life. Why on earth would you take a loan for that? Imagine you travel abroad for vacation (on a loan) and then when you come back, all the 'freshness' you get from the trip, will disappear in 2 days because you gotta pay back the money you borrowed.

4. You buy things because everyone around you has bought them
You make your money, they make theirs. As much as you should be trendy and fun and in-touch with what is in vogue, you should NOT be so carried away by the trends that you end up being broke. At the end of the day, the person who smiles last is the person that can take care of his/her NEEDS (please note that things you need are VERY different from thing you want).

5. You have been working for up to a year and you have no money saved up
No matter how little you earn, make it a point to save something for the rainy day...and create a very stiff definition of the term 'rainy day' for yourself. If you have no savings and your reason is that you have debts to pay, bills to pay, family to carter to....than you are lying to yourself about your financial worth.

6. You think your spouse's extravagant spending is cute
A significant-other that spends carelessly is NOT cute...even if they are spending all the money on you (unless you are in it for just the money, then, move along...this gist here is not for you. lol)


Listen to the way I put it on air....next week, I'll share tips on how to get out of the financial rot.