10 Signs of Too Much Debt
A limited amount of debt isn’t bad, but excessive debt delays you from reaching your goals. With patience and control, you can achieve balance in the future.
- You spend more than 20% of your net (after-tax) income to pay off car loans, credit cards or other types of consumer debt
- You are borrowing to pay off others
- You don’t know how much you owe
- You make minimum payments on everything
- You miss or are late paying bills
- Creditors are calling
- Stores refuse to give you credit
- You borrow from retirement accounts or use credit cards to pay monthly bills
- You have overdrawn your checking account more than 3 times in the last year
- You are working an extra job to keep up with your bills
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What now? Debt can be overwhelming causing us, the consumers, confusion on how to solve what seems to be a never ending cycle of bills. Visit Centric’s blog page for tips and ways to reduce or eliminate debt. Read more about budgeting, saving and preparing for the future.
Interested to know where you stand financially? Check out Live Better, our financial wellness program, for the opportunity to have free workshops, credit report reviews and more brought straight to your workplace!
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