·         You have borrowed money from a new source to pay off an older, perhaps even overdue, debt.

·         You have borrowed money to pay for regular household expenses such as rent, food, clothing, gas or insurance.

·         You have reached your credit limits.

·         You hurry to the bank on payday to cover checks already written.

·         You no longer can contribute to a savings account or have no savings at all.

·         You pay bills with money earmarked for other financial obligations.

·         You pay minimum amounts or less on your outstanding debt.

·         You use a cash advance from one credit card to make payments on others.

·         You have applied for more credit cards to increase borrowing.

·         You have drawn from savings to pay regular bills.

·         Your liquid assets total less than your short-term debt.

. . . and on and on!

Your thoughts on this subject?  Your comments appreciated!

Content © Rich Brott, 2011

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