Answer yes or no to the questions below to find out if you are over-indebted.
|Are you spending more than 20% of your net income on credit card bills?|
|Are you borrowing money to pay off debt?|
|Are you paying your bills on time but running out of cash between paydays?|
|Are you using your credit card to pay for basics because you don’t have cash?|
|Are you paying for the bare minimum on credit cards?|
|Have you been turned down for a consolidated loan?|
|Are you looking into or are have you refinanced a loan to free up cash?|
|Does the bank always ask for a co-signer?|
|Are you financing your vehicle for six years or more?|
|Are you consolidating loans but not closing the accounts from where loans originated?|
|Are you always looking for the next big deal that’s going to get you out of debt?|
|Are you waiting until near the end of your credit card’s grace period to pay, or requesting a higher credit limit?|
|Are you experiencing problems with your family or spouse due to debt?|
|Are you depending on family or friends to bail you out?|
If you answered ‘yes’ to two or more of the questions above, we recommend that you do a budget as soon as possible. If you have answered ‘yes’ to five or more questions above, we recommend talking to a debt expert to see where we can release some debt pressure.