Avoid These Lifestyle Roadblocks

Have you ever faced a significant life challenge for which you have to put everything on hold? Many working adults encounter lifestyle roadblocks that can threaten to eat us savings accounts, create legal trouble, and delay important plans. As the saying implies, prevention is always the easier route than a cure. That’s why it makes sense to take a proactive stance and leverage the power of knowledge. Fortunately, it is possible to side-step potential life hazards like gambling addictions, filial responsibility laws, high-interest credit card debt, embarrassing social media posts, and impaired driving convictions. The trick is in knowing just how pernicious each of the hazards can be and making a sensible plan to avoid trouble before it happens.

Gambling Habit

Every year, thousands of otherwise financially responsible people lose huge sums of money gambling, usually while they’re on vacation in Las Vegas, Europe, or on a cruise ship. The tricky thing about gambling debts is they pile up fast, particularly if you’re trying to recoup early losses at the roulette wheel or blackjack table. The surest way to avoid surprise wagering debt is to set a strict limit on the amount you’ll spend. A common technique for Las Vegas vacationers is to bring an extra hundred dollars or so that’s specifically earmarked for gaming.

Filial Responsibility Laws

If you’ve never heard about filial responsibility laws, they might sound strange at first. About half of the US states have enacted laws that make adult children at least partially responsible for poor, impoverished, or otherwise financially destitute parents who need medical or long-term care. These filial law states have gone to court to extract funds from working adults to cover parental care expenses. If you reside in one of those states, make sure to learn about the particulars of the law because there are several variations of it. Being prepared in knowledgeable is the best defense against an unwanted collection letter.

Credit Card Debt

One of the most common ways people fall into excessive debt is by overuse of credit cards. It’s imperative to make sure you know who has the right to use your cards so you don’t see charges for costs incurred by relatives, friends, or others who might gain access to the card itself. Likewise, avoid letting small purchases add up without paying down the balance. The wakeup moment of that situation is that interest charges on high balances can deal a major blow to your financial stability. Aim for using just one or two cards and keeping balances at or below 10 percent of the allowed limit. Better yet, pay off all balanced each month to avoid accruing interest.

Unwise Social Media Activity

Social media carelessness has ruined many job searches, career advancement, and credit application. Be careful about posting embarrassing photos, harsh comments, or other content that you’d not want a future employer or lender to see. If you already have a history of unwise use of social media, consider hiring an IT specialist to clean up some of the mess. Then, refrain from posting potentially damaging images or comments from that point forward.

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