DEBT MANAGEMENT
Too Much Debt: 12 Warning Signs
The following is a list of common warning signs that may indicate that you are or are on your way to being in debt.
- You’re stressed every month that you can’t pay your payments
- You have more than one credit card and can only afford minimum payments
- You have maxed out the limit on one or more cards
- You pay other bills by taking cash advances against your card
- You are unsure of how much combined debt you actually have
- You live from paycheck to paycheck and can’t afford to save
- Even a small emergency would wipe out your savings
- You shop compulsively
- You lie about how you spend money
- You hide or throw away receipts and credit card statements
- You have been denied credit
- You think your indebtedness will not effect your ability to land a job
If you agree to 3 or more of the above statements, then chances are you are in or on your way to being in debt.
Source: Jan Brakefield, CFP
