Danger Signals of Too Much Debt – Part III
·        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