Once you start hemorrhaging money, it can be challenging to get your finances back in order. What once seemed like a controllable problem starts to feel like a helpless one.
People most commonly use the word “hemorrhaging” to describe blood releasing from a broken blood vessel. Hemorrhaging money means you’re losing substantial amounts of money or “bleeding” money.
What Does “Hemorrhaging Money” Mean?
The following list of money maladies, in isolation or aggregate, usually cause ongoing money hemorrhaging. Learn to identify them and then apply the information covered in the following section to stop.
What Causes You to Lose Money?
The problem is that people who increase spending at too high of a rate diminish their chances of reaching financial independence and other money-related goals. No matter how much money they make, some people still always feel broke.
Lifestyle Inflation
The basic idea of financially “keeping up” with others is that people want to appear as if they have as much money as their peers, or even more.
Keeping Up with the Joneses