Quick Debt Quiz:

 
1) Are your debts making your home life unhappy?  
                
 

2) Are you at or near your credit card limits?   

 
              
3) Do you have a savings account?
   
 
            
4) Do you have enougth money set aside to pay for 3 month of expenses if you had an emergency?

 

5) Do you generally pay only the minumun due on credit card and/or loan balances?

 

6) Do you ever make unrealistic promises to your creditors?

 

7) Do you ever think of borrowing money to pay off your debts?

 

8) Do creditors call you regarding late payments?

 

9) Do you fear your employer, family, or friends will find out the magnitude of your debt?

 

10) Do you ever borrow money without giving sufficient thought to the interest rates you will have to pay?

 

11) Do you ever compose a strict plan for paying off your creditors, only to break it under pressure?

 

12) Have you ever taken cash advances from one credit card to make payments on other credit cards?

 

13) What is your current debt to income ratio? (To calculate your debt income ratio, take your total monthly take-home pay and substract your total monthly debt).