Blogs

Welcome to our blog, your gateway to the realm of Islamic finance, wealth management, and beyond. Our mission is to equip you with invaluable insights, advice, and knowledge, enabling you to make well-informed financial choices in accordance with Islamic principles.

cover image of bog article on signs that your debt is out of control

Signs Your Debt Is Out Of Control

November 19, 20182 min read

Are you in control of your debts?

Quite often, we like to think that we're in control of our money.

Here are some signs you may not be in control of your money.

Maxed Out Credit Cards

The first sign that you're not in control is maxed out credit cards. You go to a store, put your credit card down, and it's been declined. You got another card, that's declined too. You got a third card, that's declined too. One of the major signs that you're not in control of your money are maxed out cards.

Minimum Payments

Sign number two: you only make the minimum payment on your credit cards. Every month, you look at your overall balance, and you make the minimum payment, just so you don't attract the late fee. That's a sign you're not in control.

Late Payments

Sign number three, you don't make the minimum payments. Instead, you pay late. Late payments are another sign that you're not in control of your cash.

Missed Payments

You're making late payments or worse, you missed the payments entirely. It is a very telling sign that you're not in control of your money. You can't even make a late payment. You miss it entirely. You don't even pay.

Taking A Loan to Pay Another Loan

Another sign you're not in control: You actually borrow money to pay another loan. To take a loan to pay a loan. You take a debt to pay another debt. It's a very big sign that you're not in control.

Denied Applications

Major sign that you're not in control of your money? When you try to borrow more money, your applications are denied. You can't even get a new loan. You can't even get a new card. All your new applications are denied. Major, major sign you're in control of your money.

Hiding Your Debt

Really big sign you're don't control of your money is you're hiding your debt. You're hiding your loans, the amount of money you owe. You're hiding it from your spouse. You're hiding it from your parents. You're hiding it from your kids. Sometimes you even hide it from yourself. Major sign that you're not in control: Hiding your debt.

Worrying All The Time

The biggest sign you aren't control of your money is that you worry about it all the time. You can't sleep. You can't work. Sometimes you can't eat. You can't even function normally because you're so worried about the amount of debt that you have. Worrying all the time.

So these are some of the signs of a person who is not in control of their money. Have you ever felt or experienced any of this? Comment below and let us know: what are some of the other signs of a person who's not in control of their money.


debtdebt financingpersonal financegetting out of debt
Back to Blog

Address:
114 Lavender Street, #07-83 CT Hub 2,

Singapore 338729

WhatsApp:
+65 8952 8511

Website:
modernmuslim.finance

Visit Us On Social Media

© 2024 Modern Muslim Finance. All rights reserved.