By Chuck Bentley

Are you spending too much money? According to an article in investopedia.com, here are 10 signs you’re spending too much money.

1. You carry credit card debt. If you’re not completely paying off the balance on your credit card every month, you’re probably spending too much.

2. You have no retirement savings. If this is the case, you will have to work later in life.

3. You don’t have enough saved for retirement. “Most financial planners agree that you have to save 10% to 15% of your income each year starting in your 20s. That’s hard to do but it’s essential.”

4. You have too much house.  If you’re paying more than 28 percent of your income for housing, you’re paying too much.

5. You have too much car. It is better not to pay more than 15 percent of your budget on transportation.

6. You are not saving for your children’s college education.

7. You don’t have health insurance. This is now required by law.

8. You eat out too much.

9. You don’t have an emergency fund. If you don’t have anything put aside for unexpected expenses, begin saving NOW. We recommend working toward three to six months’ income in a savings account for unexpected expenses.

10. You don’t follow the 50/20/30 rule. Half for essentials, 20 percent for debt or savings and 30 percent for lifestyle choices.

Sound like any of these describe you? You can change that, you know. For almost 40 years we have helped individuals and families achieve their financial goals by providing biblical counseling and tools that set you on the path to financial freedom. Our goal is to help you do well now with your finances so that you can one day stand before the Lord and hear those words, “Well done, good and faithful servant.”

Originally posted 3/16/2015.