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Three Signs you’re in Financial Survival Mode

financial survival mode
Are you where you want to be financially? Or do you feel like you’re stuck in financial survival mode? No power or clean water from winter storm Uri has millions of Texans in survival mode (luckily my little RV is still has power and water!). When you’re physically cold, hungry, and thirsty you know you’re in survival mode. How do you know if you’re in financial survival mode? There are three signs you’re stuck in financial survival mode.
 

As a quick heads up, tonight is the deadline to enter the scholarship program to win enrollment to Best Money Class Ever, my four-week signature personal finance class. Winner will learn how to get out of debt in 36 months, invest like a pro, make yourself recession-proof, and save to buy a home or car. Enter to win enrollment here.  Or click below.

Here are three signs you’re in financial survival mode. 

 

Financial Survival Mode Sign #1: Living Paycheck-to-Paycheck

 
CNN reported 76% of Americans live paycheck-to-paycheck. If payday can never get here fast enough for you, then this is a sure-fire sign you’re in financial survival mode. You’re constantly checking your bank account, over drafting, and financially insecure.  
 
The paycheck-to-paycheck cycle is stressful and all-consuming. When you don’t have money for rent, food, or day-to-day bills it provokes a similar stress as being stuck at home without food and water from a natural disaster. Except the financial survival mode never ends, unless you make changes! 

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Financial Survival Mode Sign #2: Spending What you’ve Saved 

Your saving account and bank account is like a game of ping pong. You ambitiously save and just as soon as money is transferred to savings you transfer the money back. Your expenses are out of control and always feel unpredictable. 

When you’re consistently unable to save long-term you aren’t growing financially: you’re simply surviving. You’re underestimating your expenses and overestimating how much you can realistically save. This is like having a propane tank for an emergency to stay warm, but running out of gas.  

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Financial Survival Mode Sign #3 Relying on Debt for Major Purchases 

 

Instead of viewing the total cost of an item, your brain is wired to buy in terms of low monthly payments. If every time you buy something more than a couple hundred dollars you need to rely on debt, then you’re in financial survival mode.

When you buy a laptop, washer and dryer, set of tires, or new phone with a payment plan it doesn’t initially feel like survival mode. However, one low monthly payment, can quickly turn into ten low monthly payments. Before you know it, as soon as your paycheck comes in, it goes straight out the door to pay off what you owe.

Low monthly payments don’t “hack” the financial system. You’re spending money on interest versus earning interest on your investments. Stop surviving on debt and start building wealth.

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Get out of financial survival mode! Live the life you’ve envisioned (without money getting in the way). 
Carly
P.S. Stay warm and safe! If you’ve been meaning to get your finances in order, now’s the time and this is the best place to start! Best Money Class Ever starts on April 6th. Save your spot and enroll here for my 4-week live personal finance class. 

If you know of friends, family, or coworkers who also geek out on personal finance, then share the class info with them too! When you enroll by March 10th, you can bring a friend for free!
 
Remember you only live once, be smart with your money now! 
best money class ever
best money class ever carly michelle

Hi! I'm Carly

I’m a Finance grad and creator of Best Money Class Ever, a 4-week live virtual personal finance class. I paid off $35,000 of debt and saved a nest egg of over $100,000 by age 26 (earning only around the median household income!).

If I can pay off debt and build savings at a young age, anyone can with a little education and solid plan.

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Hi! I’m Carly. Tired of not making progress with money? Learn the three mistakes (you can’t afford to make) to get the results you want with money.

Get out of debt Invest like a pro Buy a home Make yourself recession proof Stress less about money Ditch emotional online spending

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