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Are You Addicted to Debt?

Created: On December 17, 2008 @ 12:36 pm In

Many Americans are in debt up to their ears and struggling to keep up with credit card and other payments. But if you compulsively spend and get a high from doing so, you may be addicted to debt. Here are some warning signs:

  1. You have no idea how much you actually owe to creditors, how much interest you’re being charged,¬†or few other details about your finances.
  2. You shop compulsively. People who are addicted to spending often buy things they don’t need, have a lot of clothing with tags hanging in their closets, and purchase items they never use just because they were on sale.
  3. You frequently borrow money from friends and relatives but never pay it back.
  4. You live paycheck-to-paycheck and frequently bounce checks.
  5. You never save money and have made no plans for retirement or emergencies.
  6. You’re always dealing with some sort of financial crisis because you never take time to budget or work out a spending plan.
  7. You regularly have phone service and utilities turned off because you can’t pay your bills.
  8. Bill collectors call frequently and you avoid talking to them.

If you think that you are addicted to debt, you can get help from a credit counselor or group like [1] Debtors Anonymous. You don’t have to work through your debt problems alone.

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URL to article: http://www.debthelp.com/blog/2008/12/17/are-you-addicted-to-debt/

URLs in this post:
[1] Debtors Anonymous: http://debtorsanonymous.org/about/about.htm