This is a guest post by Kris Bickell. Kris owns debt-tips.com, a site that offers many methods of debt elimination and simple tips for getting out of debt faster.
Nobody plans to grow up and live a life ruled by credit card bills.Â Most of us dream about living a life of luxury with all the money we’ll ever need.
Unfortunately for many of us, those dreams sometimes turn into nightmares.Â And then the only dream worth thinking about becomes winning the lottery.
If that sounds like you, then you need to come to grips with reality and start changing your financial habits.Â As with many goals that are hard to achieve, the first step is the most difficult – and that first step is to simply acknowledge that there is a problem!
So, if you no longer answer the phone because you’re afraid it might be a bill collector, and it’s hard to sleep at night because it’s difficult to pay the bills, it’s time to consider these “5 Warning Signs That You’ve Got Way Too Much Debt” and get help managing your debt:
1) You buy everyday items (like groceries) with a credit card.
This is one of the most telling signs of a big problem.Â Yes, you need to do what you have to do to feed your family.Â But if you use credit cards as your savings account, then you are heading for big trouble.
2) You have to keep opening up new credit card accounts so you have money to spend.
There is nothing wrong with having more than one credit card, especially if you have a rewards card, or a store card that offers you special discounts.Â But when things get tight, it’s hard to resist the temptation to keep using the cards if you have them.
3) You pay as much as you can but your balances still keep rising.
Paying the minimum balance will only mean one thing – you’ll be stuck in debt seemingly forever.Â But if you are able to pay more, and your balances still keep going up, then things are bound to get even worse, fast!
4) You have no idea how much debt or how many cards you have.
No, you don’t need to know your balances down to the last penny.Â But if you don’t know how much you owe because it’s too painful to look, then that’s not good.
5) You have no plan for getting out of debt and no hope that you’ll ever be debt free.
Sure, it’s only money.Â But those who have never struggled have no idea how painful it is to live with debt.Â No matter how bad things seem, you need to come up with a plan – and realize that there is a way out of credit card debt!
If one or 2 of these signs are true for you, then you’re on your way towards financial trouble.Â If 3 or more of these are true, then you must get professional help dealing with your credit card debt!
For tips on getting out of debt and turning around your financial situation, visit www.debt-tips.com.Â You’ll learn how to get the help you need to pay off your credit card bills, including how to settle your own debts.