Three Signs that you have too much Debt
Are you under the impression that your debt has spiraled out of control? If you think that you have too much debt you probably do. That being said, you never really know for sure until you crunch the numbers and compare them against where you want to be. There are some people who have too much debt but never know it because they miss all the warning signs. Is this you?
Here are three signs that you have too much debt:
1. You are using your credit cards to make ends meet. This means that you have more bills than income. Obviously, it doesn’t take a genius to realize that this is a bad situation. When you owe more than you earn each month you have too much debt.
2. You don’t have an emergency fund. This is not necessarily the worst thing that could happen to you. But if you don’t have any emergency money you may be forced into a bad situation, such as using your credit card, should an expense pop up out of nowhere.
3. You have accounts that are past due. This is an eye opener for many consumers. If you have accounts that are past due there is something wrong. In most cases it means that you have too much debt, and had to spend your money elsewhere.
These three signs more than likely show that you have too much debt. Are you seeing any of these signs in your financial life? If so, you need to realize that they are not going away until you do something about them.
