Please consider the following ten items, and see how many apply to your financial life. If six or more do, it might be a sign that your finances are not under control, and it might be a warning to greater problems.
They are not in any specific order of importance.
- Some of your credit cards have charged you in the past months over-limit and late fees
- You owe more than 50% of your available credit
- Some of your credit cards are charging interest rates higher than 18%.
- You are using credit cards to pay daily expenses such as food, gasoline, rent, etc,.
- You find yourself making balance transfer between credit cards to try to keep good interest rates.
- You regularly send only the minimum payment on your credit cards
- You don’t know exactly how much you owe in total in credit card debt.
- Some of your credit cards have sent you past due or collection notices.
- You owe many department store chains and oil company credit cards.
- When you get a bill from a credit card company, you experience stress that can be reflected in not wanting to open the bill immediately