1. You have no savings at all.
2. You only make the minimum payments on your credit cards.
3. Your bank account is always overdrawn and you often have nonsufficient fund (NSF) fees charged to your account.
4. Collections agencies call you frequently.
5. You have recently applied for a credit product and have been declined.
6. You don’t actually know how much you are in debt right now.
7. You lie about how much you owe and how much you spend; even to the people you care about most.
8. You often pay your bills late because you just don’t have the money when they come due.
9. You keep on using your credit cards even while you are trying to pay them down.
If one or more of the above sounds familiar to you, you are likely taking on more debt than you can manage. The first step is to recognize this and then you will be more willing to take action.
Get in touch with your creditors to see about lowering your current interest rates and talk to your financial institution to see about debt consolidation options to make your debt more manageable. The sooner you realize there is a problem, the sooner you will be able to work towards rectifying it.