11 Signs you are near a financial crisis: How to know and what to do

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11 Signs you are near a financial crisis: How to know and what to do

Everyone of us has at some point in our lives experienced a financial crunch. However, you can manage it without worrying much. But, the condition worsens when you experience a prolonged financial crisis that you can’t tackle in a couple of months.

Well, you can avoid it if you can recognize the signs of personal financial trouble.

Researches reveal that about 26% of adult Americans haven’t saved anything for emergencies and about 36% people are yet to start saving for retirement. Even about 8% of households don’t have a bank account. As per a data in 2016, about 38 million people live paycheck to paycheck. More shocking is that amongst these, two-thirds of people earn about $41,000, which is a decent income and much more than the federal poverty level.

So, it’s not that you earn less, but you have to manage your money efficiently so that you can avoid the signs of personal financial distress. Any of these signs of personal financial trouble is a warning sign that you’re near a financial crisis. Also know what to do.

Last Updated on: Mon, 28 May 2018

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