[-- Read Time: 2 mins --]

Believe it or not, you can earn a six-figure salary and still be broke.  In fact, you can earn all the money in the world and still find a way to blow it, if you don’t have good financial habits.  We all know you’re supposed to pay your bills on time, keep your spending to a minimum and save for a rainy day.  However, it’s easier said than done.  Here are four signs that you have an unhealthy relationship with money.

You don’t even bother to open your bills

You’re not blind, you obviously know the bills are there, but you’ve made it your mission to avoid them at all costs.  Newsflash, your bills aren’t going to pay themselves.  So, it’s time to take off your blinders and see how much damage you’ve done.  Open every single piece of mail and create a list of your debt.  Jot down who you owe, the balance, interest rates and due dates.  Then order your list from the highest to lowest based on the interest rate.  Paying off your bills in this order is the cheapest way to get out of debt.  If you need to see results to stay motivated, start paying your debts from the lowest to highest balances instead.

Saying “no” is not an option

Expensive vacations, nights out on the town, it doesn’t matter if your wallet is running on empty, you’re going anyway.  You’ll just throw the expense on your credit card and worry about it later.  Let’s be clear, fitting in with your friends is not more important than your financial health.  Although it’s normal to want to be accepted by others, you need to know where to draw the line.  You can’t keep accepting invitations to things that are out of your price range because you’ll wind up broke.  Don’t be ashamed or embarrassed to let people know that certain activities aren’t in your budget right now.  Your true friends will respect you for being honest and if they want you to go bad enough, they may offer to foot the bill.

Hiding purchases from your partner has become the norm

You know that if you come home with one more shopping bag, your partner is going to have a fit.  For some people, that’s enough to curb their spending but nope, not you.  You rather just hide your purchases to avoid an argument.  You may even snip off the price tags to pretend it’s been in the back of your closet for a while.  Not only are you being dishonest, but you’re putting you and your partner’s financial future at risk.  Take some time to find out the real reason behind your spending and look for other ways to cope.  It’s also a good idea to fess up to your partner and offer a sincere apology.

You’re in the red every month

An obvious sign that you don’t have the best relationship with money is that you overspend every month.  Overdraft fees vary based on the bank but cost no less than $20 per item, so we doubt you can afford to rack them up.  Do yourself a favor and develop a monthly spending plan.  Grab a pen, paper and calculator, then create separate lists for your monthly income and expenses.  When you’re done, compare both lists.  If your expenses are higher than your income, you need to put some things on the chopping block.  Keep cutting away at the unnecessary expenses until you’re no longer in the red.  Track your spending throughout the month and tweak your budget as needed.