15 Warning Signs of Debt Problems

Posted by Ian McKenzie

Written on October 25, 2008

If you're new here, you may want to subscribe to my RSS feed. Or, if you prefer, you can subscribe to my blog posts by e-mail. Thanks for visiting!

Image via Wikipedia

Posted in Money Matters

You can’t eliminate personal debt if you don’t recognize 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. If you find yourself in any of the following situations, think seriously about addressing 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 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, movie tickets or fast food.
You find yourself arguing with your spouse about money or you’re are afraid to talk to your spouse about money at all.
Your utilities are disconnected for non-payment.
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 use a cash advance from one credit card to pay another.
Creditors are calling you about overdue bills.
You’re thinking about filing for bankruptcy.

email2friend

Snowball Debt Calculator to Become Debt Free

Tips for Getting Fiscally Fit

Five Steps to Eliminate Credit Card Debt

Money Matters

Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.

Comments

Good advice - sometimes it is good to go over these to make sure if you are in debt or starting to fall into it!

Comment by Sam Iles on October 25, 2008 @ 9:24 am

These are great tips! I’m Emily and I work for Check ‘n Go and we have implemented a new part of our website to help people learn how to save money doing everyday things, like grocery shopping. Check out http://www.checkngo.com to see these tips.

Comment by Emily Winkle on October 28, 2008 @ 11:02 am