Is Money a Problem for You?
By Ric Edelman
So you've decided to pay off all of your debts. Great! We'll help you get started, and tell you how you can stay out of debt. First, read through this checklist to see if money is a problem for you:
Is money a problem for you? Here are some warning signs, courtesy of Clearpoint Financial Solutions:
- an increasing amount of your net income is going to debt payments
- you pay only the minimum amount on loans and credit cards
- you've reached your limit on credit cards
- you pay bills with money that was intended for other things
- you use credit cards to pay for things that you used to pay for with cash
- you often pay bills late
- you delay or omit visits to the doctor or dentist because money is tight
- you get calls from collection agencies regarding unpaid bills
- you work overtime or a second job to raise cash to pay bills
- losing a job would create instant financial trouble
- money is a constant concern to you
If any of this hits home, read Step #1: Don't Spend Tomorrow's Income Today.