| And living with somedebt can be manageable - as | | | | Denied Credit - If you can't get approved for loans, |
| long as we can stay on top of it. But when | | | | creditcards or other credit, your debt may be to |
| debtspirals out of control, we realize that too much | | | | blame. It is difficult to get a loanor other credit when |
| debt can be devastating to ourfinances, as well as | | | | you cannot pay off the bills that you already have. |
| our personal life. At this point, it is necessary to | | | | Thisnegatively affects your credit, which will only |
| re-evaluatebudgets and spending and find the best | | | | continue to hurt your finances. |
| way to get out of debt and reclaimcontrol of your | | | | Trouble with monthly bills - One of the biggest |
| financial future. Here are some ways to determine if | | | | problemswith too much debt is the inability to pay |
| you are intoo much debt: | | | | monthly bills such as rent ormortgage payments, |
| Credit Card Dependency - Although credit cards are | | | | utilities, insurance, etc. If you have so much debt that |
| oftenbeneficial, overuse of them can be detrimental | | | | youare hindered from these basic monthly payments |
| to your finances. If you findyourself using credit | | | | you will only continue to getbehind and increase your |
| cards to cover basic expenses such as gas and | | | | debt. |
| groceriesbecause you don't have the money in your | | | | These are just a few of the common indicators of |
| budget to pay them, this may be awarning sign that | | | | too muchdebt. If you find yourself in these situations, |
| you are in too much debt. Using credit cards for | | | | it may be time to get out ofdebt as soon as possible. |
| everydaypurchases can cost you several times the | | | | The first step is to make the commitment to get |
| original amount in interest and latefees. | | | | outof debt. It will take hard work and some time, but |
| No Savings - A part of every health budget should | | | | with the right attitude, youcan get out of debt faster |
| includeputting away money from each paycheck into | | | | than you think. |
| a savings account, retirement fundor other long-term | | | | Re-evaluating your budget, examining your expenses |
| investment. If you don't have enough money to put | | | | andcutting back where you can are all good ways to |
| intosavings, you need to re-evaluate your budget. | | | | get started. However, if youdecide that you can't do |
| Not having money for savings putsyou at risk for | | | | it on your own there are a lot of programs |
| further debt should unexpected expenses arise. | | | | availableto help you reach your goals and find the |
| Bounced Checks - Bounced checks are often an | | | | best way to get out of debt. |
| indicator thatyou have too much debt. Besides the | | | | Do your research and find a program that is |
| inconvenience, bounced checks often resultin fees | | | | realistic,legitimate, and fits into your financial outlook. |
| which further your debt. It is also an indicator that | | | | Once you do, all you have todo is stick to it and you'll |
| you may not knowhow much money you have, | | | | be on your way to financial freedom. |
| which is another sign of significant debt. | | | | |