Think you might be in debt? Here are ten signs of debt trouble. Check to see where you stand on the debt scale. The more of these ten signs of debt trouble apply to you, the more positive action you will need to prevent, or get out of, debt.

#1 – Your Savings Account Is Empty

You have a savings account but nothing or very little saved. If you have no money set aside, that might mean your bills are too high, preventing you from any substantial savings.

#2 – You Choose Plastic Over Paper

You find yourself paying with plastic instead of good old cash, especially for necessities like food.

#3 – You Attack Your Debt Troubles With Minimum Monthly Payments

You only make the minimum required payments for your credit cards or other monthly bills because that is all you can afford.

#4 – Your Checking Account Is Tapped

You have a very small amount of money in your checking account or the money you do have is either gradually or rapidly decreasing.

#5 – Your Debt Trouble Is Affecting Your Friends and Family

You find yourself asking others for money and/or have trouble paying them back on time. Or worse, when you borrow money from others, you lie about why you need it, feeling shame.

#6 – You Can’t Chip Away at Your Principal
 
Your balance each month stays the same or even increases. You never seem to make any headway or create a dent in what you owe.

#7 – Your Card Has Been Declined

Your credit card is declined when you go to purchase something. Embarrassment may follow.

# 8 – You Collect Credit Cards Like They’re Baseball Cards

There are two, three or more major credit cards in your name. Even worse, you regularly sign up for new credit cards.

#9 – Your Credit Card Balance Lives on the Edge

You have reached, or are close to reaching, your credit card limit.

#10 – A Recent Credit Check Put You in Check

This is a biggie. You check your credit score, only to realize it is in the dumps.
 
You can get out of debt. After finding the signs that apply to you, address each one and focus on resolving the issue before moving on. Eliminating your debt takes time and discipline, but once you fix the bad spending habits that create the debt, you are on your way to a debt-free life.