1. You don't know how much you owe.
Hiding from your debt doesn’t make it go away. In fact, if you’re purposely ignoring your debt, it could be that you know you have more debt than you can handle and you’re simply afraid to face up to it.
2. You pay your bills late because you don't have any money.
If your debt payments are more than you can afford, you definitely have too much debt. Unfortunately, paying late only makes it worse because you now have to deal with late payments and higher interest charges.
3. You don't answer the phone because it might be bill collectors.
When debt collectors start calling you, your debts have become delinquent and probably unaffordable. You may be able avoid the phone calls for awhile, but don’t underestimate your creditors and debt collectors – they may decide to sue you for what you owe.
4. You've borrowed money to pay your bills.
If you have to pay your bills with loans from family, friends, credit cards, or cash advance places, you have too much debt.
5. Your finances cause you to lose sleep.
Are you so worried about your bills that you can’t sleep at night? Do you toss and turn fretfully wondering how you’re going to pay the bills? That’s a sure sign that your debt has gotten out of control.
6. Your finances affect your work performance.
When your financial woes spill into the workplace, it’s time to do things differently. Losing your job is the last thing you need right now because a loss in income could out you over the financial edge.
7. You've drained your savings.
The absence of savings itself doesn’t always mean you have more debt than you can handle. If you drained your savings trying to pay off your debt or to make ends meet, that’s when you know there’s a problem.
8. You turn to drugs or alcohol to escape the stress of your debt.
Many people use drugs and alcohol to avoid facing up to their debt. The high cost of drugs may have even contributed to your debt. Getting treatment for substance abuse will be one of the first steps you have to take if you want to get out of debt for good.
9. You can't afford living expenses without a credit card or loan.
When you have to buy groceries with a credit card, it’s a sign of a deeper issue – you don’t have enough money to sustain your lifestyle. You may not make enough money at all or you could be mishandling the money you are making. Either way, you have to figure out how to survive on the income you make or increase your income.
10. You hide your spending from loved ones.
Ask yourself why you feel the need to hide your spending and the answer will probably because you know they will not approve. If you can’t be honest with your loved ones about your debt, chances are you have too much of it. You may even hide it because you’re afraid they’ll stop you from spending, which might be a sign of that you’re addicted to debt.
