In this post, I’ve listed 5 signs that I thought were particularly telling from a list posted by Debtors Anonymous. They are an organization of men and women who share a desire to stop incurring unsecured debt. Like other “anonymous” type groups, people can start up regular meetings and receive support. There are also a number of resources on the website such as recovery stories, and a Debt Quiz – to help assess whether you may have a problem.
* Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, fines, or contractual obligations.
* Poor saving habits. Not planning for taxes, retirement, or other nonrecurring but predictable items and then feeling surprised when they come due; a “live for today, don’t worry about tomorrow” attitude.
* A different feeling when buying things on credit than when paying cash – a feeling of being in the club, being accepted, being grown-up.
* Living in chaos and drama around money. Using one credit card to pay another; bouncing checks; always contending with a financial crisis.
* A feeling or hope that someone will take care of you, if necessary, so you won’t get into serious financial trouble; a belief that there will always be someone to whom you can turn.
* A tendency to live on the edge. Living paycheck to paycheck; taking risks with health and car insurance coverage; writing checks and hoping money will appear to cover them.
Read their list of 12 signs here. Many people who exhibit these signs have a hard time talking about them. Confiding in someone and seeking support is an excellent first step.
For more information and tips to help you get out of debt, visit the eBillme money management tips.
