There doesn’t tend to be anything worse than increased financial pressures for our stress levels. In a world that is seemingly ruled by money and everything it is affiliated with, things can seem pretty bleak when your finances are looking less than healthy. The double edged sword of this is that we tend to live in a society that is quite secretive about money, out of politeness and respect for other people. This means that often we bottle up information regarding our spiraling finances for fear of what other people might think, and ultimately this leads to many of us not getting the help we need. But financial issues, however tiny they may seem at first, should not be ignored. They can easily start to snowball and can lead to some pretty devastating consequences, such as losing your assets or even going bankrupt. Here are some of the most common reasons behind financial disarray, and what you can do if you fall into any of the following situations.

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    Scams and fraud

    You may think that you are pretty immune to fraudulent behavior and that you are savvy enough to spot a scam from a mile off. However, that is probably what most people think who end up being victims of scams anyway. Millions take place all over the world every single day, and the criminals behind them are thinking up more and more innovative ways to fleece their victims out of their hard-earned cash. Unfortunately, even if you manage to catch the perpetrators and hand them over to the authorities, there is still no guarantee that you will get your money back at the end of it all – so the court case can be a pretty thankless task. Scams can vary in shape and size, as can the people behind them. Classic examples include things like ‘get rich quick’ schemes and pyramid schemes, which you must always be wary of. Many perpetrators are now also banking on emotional scamming, where they befriend you online and ask for money. Never send money online to someone you don’t know, as it’s fairly likely you will never see it again.

    A bad investment

    This can be a pretty tough pill to swallow, but a lot of people make at least one dodgy investment in their lifetime. Of course, if it was only something minor it probably won’t have that much of a big impact on your life. But if a lot of cash was at stake and the investment didn’t produce a return, you can find yourself losing a lot of money. It can also lead you to some nasty side effects, such as a reluctance to ever invest again and a bad credit score. You may find that you spend ages dwelling over what exactly went on, but try not to beat yourself up about it. After all, once it’s done, it’s done, and you just need to focus on how you can minimize any collateral damage hereon in. One way to help you get out of the mess a bad investment can leave you in is to look into bad credit personal loans. Providing you know you can pay it back, they are viable options for those of us who have had our credit score hit by a poor financial decision.

    credit-card-1104960_960_720General overspending

    We all know how convenient our debit and credit cards are – one quick flash of the plastic and hey presto, we’ve bought something. For some of us, however, this can be a dodgy path to go down, especially if you have a penchant for shopping. Not having physical money in front of you can often make it hard to keep track of how much you are spending. Plus, research suggests that shopping can actually be an addiction, with people world-over hooked on the dopamine rush that a new purchase can give you. If this sounds like something you can relate to, you may need to re-address your shopping habits. If you have multiple credit cards, be strict with yourself and cut the ones you don’t need up – they only fund your habit after all. Set yourself a monthly budget for your vices, whether that is clothes or eating out, and get a friend to hold you accountable to it. It won’t be an easy ride, but with the right measures in place and the right support, you can overcome your spending addiction and get on track for a better financial future.