Erika´s bollplank

Are You a Financial Trainwreck?

Answer true or false to the following statements:  

• I will neglect bills to make an impulse or luxury purchase.
• I will make a purchase based on my perceived need or desire, or what I feel I deserve, instead of what I can afford.
• I buy items out of guilt for my children, whether or not I can afford them.
• I buy name-brand goods because of the emotional feeling.
• I sometimes finance toys - boats, RVs, four-wheelers - or vacations.
• I use borrowed money, such as credit cards, to make payments on items I have already financed. 
• I charge basic living expenses: mortgage, car note, student loan, tax bill.
• I buy things based on monthly payments instead of actual cost. 
• I lack a budget or plan based on my financial reality, and lie to myself or spouse about expenditures. 
• When I'm stressed out, anxious or celebrating, I spend money I don't have.

Count the number of true answers. If you answered true to any of these, you have an unhealthy spending habit. If you answered true to five or more, you are headed for serious financial troubles.