Warning Signs of Debt
You can’t get rid of personal debt if you don’t recognise you
have it.
If you’re laying awake at night worrying about money, you
probably already know that you’re in over your head.
If you’re cruising along, juggling credit cards and spending
away, you may not know you’re on a dangerous path.
And if you find yourself in any of the following situations, you
need to think seriously about dealing with your debt.
- You routinely spend more than you earn.
- You make only the minimum payment required on your credit
cards.
- Your credit limit is maxed on most or all of your cards.
- You’re unsure about how much you owe or what may be on your
credit report.
- You skip payments on some bills in order to pay others, or use
cash advances on one credit card to pay off another.
- You use credit cards for day-to-day purchases like groceries,
cinema tickets or fast food.
- You find yourself arguing with your spouse about money or you
are afraid to talk to your spouse about money at all.
- Your utilities are about to be or have already been
disconnected for non-payment of bills.
- You write cheques that bounce.
- You’ve recently been turned down for credit or a loan.
- You panic when faced with an unexpected expense, such as a car
repair.
- You regularly ask friends or family for loans.
- You are being chase for money about overdue bills.
- You’re thinking about filing for bankruptcy.