5 Financial Signs You Have Quarter Life Crisis

Twenty-five is a weird age to be at. You are neither an adult (all twenties-somethings will strongly agree) nor a child. Your life seems to have little to no direction and you’re constantly torn between envying and pitying your peers that are overachieving or having babies.

There are a plethora of blogs on quarter life crisis that’ll convince you about your existential crisis. Still, want to take another test?

Here are five sure-shot financial signs that confirm you’ve caught a severe case of the quarter life crisis:

1. You have no idea about your taxes

You basically cringe or run in the opposite direction when it comes to filing your taxes. You’d rather concentrate on a slab of ice-cream than understand the income tax slab rates. You don’t want anything to do with the numbers and have no idea how much you should pay. But you suddenly realize that it is an adult thing to do and now you’re panicking.

Sounds like you? Quarter life crisis has hit you hard, my friend.

Taxes are no big deal. Let’s break it down for you. Income tax is a major source of revenue for the government. Filing your taxes only means you declare to the government that you are earning money. You could also get a refund after you file your taxes if you’ve paid more than what you should have.

Filing income tax returns are easier than ever today. Have you given e-filing a try yet?

Check This: Step-By-Step Guide to E-file IT Returns Online

2. You are clueless about your paycheck

It’s just been a week since you got your salary and your bank account is empty. You have no idea where all the money went and you haven’t even paid your bills yet. You don’t know how much your employer deducts while handing over your salary. Gratuity is Greek and professional tax is Persian!

This is quarter life crisis – in BOLD!

It’s never too late though. You have three (or two, to keep it real) more quarters of your life to live. Try giving these money management tips a try to help you out of this situation.

Additional Read: Deciphering Your Salary Slip

3. You are scared of budgets

If there’s one thing you loathe more than taxes, it would be a budget. You think budgets are for really poor or really rich people. You come up with some pretty lame excuses to not go on a budget. You think you have it all worked out in your head but that’s far from the truth. Your finances are basically all over the place and you are almost, always in debt. You’re borrowing big time from your friends or family or are basically living paycheck to paycheck.

Yep! Quarter life crisis, it is.

Budgets are intimidating because you have no idea how rewarding they can be. And it’s not even as hard as you think they can be. All you need to do is keep a track of your expenses and cut the overwhelming, unnecessary ones out. And watch how much you’ll save.

Read This: 4 Possible Leaks in Your Budget

4. Your debts are drowning you

You struggle to pay off your Credit Card dues and are up to your eyeballs in student debt. Every time you save a little money to pay an EMI, you end up paying off another debt. The vicious cycle of dues doesn’t seem to be able to leave you alone. You regret every financial decision you’ve made in the past and wish you could go back to the past and punch that cocky self in the face.

Pretty sure it is quarter life crisis!

The key to stopping the vicious cycle is to start developing some discipline when it comes to your financial habits. Want to find out how?

Check This: How To Repay Your Debts Using The Snowball Method

5. You’ve Changed 5 Jobs in 5 Months

If you had a dollar for every time you quit a job, you’d be a millionaire by now! You jump at a job every time thinking this is your dream job but realization hits you two weeks into the job. You are the Tsar of short stints when it comes to stability and you really can’t decide if you hate your job or your boss more. You want to quit and start a band instead but you don’t really have that kind of financial freedom to take that risk.

Sorry mate! Quarter life crisis kicking in.

In those moments when you are trying to find clarity and pondering what the purpose of your life really is, money is not exactly on your mind. But what if we told you, you could take a break and not break a sweat about the finances.

Ever considered putting some extra money into a Savings Account or in a Mutual Fund? Making sound financial decisions can actually help you take that risk when you most need to. So next time you have a brilliant idea and want to bootstrap your start-up, you’ll always have the money to go ahead with it.

Life is hard as it is. But with money, it is less hard. Take a look at some of the best investment options available.