We live in a individualistic society that takes pride in the ability to take care of things for ourselves. After all, we’re Americans – we can take care of our own . . . right? But what happens when our spending gets so out of control that we pile up too much debt to pay off?
Although it may be hard to admit, we need to be realistic about our financial situation and look for help when we’ve dug a hole that’s too deep to get out of. Don’t be ashamed to ask for help from a trusted friend or family member, a financial advisor, or even a Government-approved debt management plan.
Signs that You Need Help
Overusing Credit Cards – One of the easiest questions to answer is about your use of credit cards? Are you using credit cards to pay for everything you can each month? Are you paying off these credit cards each month? If you’re using the cards without paying off the balances, chances are high that you in a debt hole, or about to be in one.
Living Paycheck to Paycheck – This term is often used but rarely defined. Living paycheck to paycheck means that you’re spending every dime that you make each month, you aren’t saving anything, you’re scrimping to get by, and you’re always broke right before payday. If this sounds like an example of your life, you might want to think about seeking some professional debt help.
Making Minimum Payments – Although making the minimum required payments on your credit cards keeps you out of default with your credit card company, it does next to nothing about reducing your actual balance. Making the minimum payments each month usually only covers the finance charges.
Creditors and Collectors are Calling – Lastly, one of the easiest ways to tell if you need some personal financial assistance if by looking over at your telephone. Does the sight of your phone strike fear deep in your stomach? Is your phone constantly unplugged of turned off? Do you screen every call you get? If so, it’s definitely time to get some debt help.
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