"The problem of money dogs our steps throughout the whole of our lives, exerting a pressure that, in its way, is as powerful and insistent as any other problem of human existence. And it haunts the spiritual search as well." --Jacob Needleman
ARE YOU HEADED FOR A CRASH?
Every year since 1996, over one million personal bankruptcies have been filed in the United States. The majority of these are the direct result of poorly managed consumer debt. I was informed recently that outstanding U.S. consumer debt (non-mortgage related) totals much more than a trillion dollars. The most disturbing fact behind that staggering number is that thirteen percent of that one trillion dollar figure, or thirteen billion dollars, was delinquent.
Thirteen billion dollars of delinquent consumer debt. Over one million personal bankruptcies each year. Are YOU on the road to debt and destruction? Take this simple quiz and find out.
DEBT QUESTIONNAIRE
- Do you regularly pay for groceries with a credit card?
- Do you spend money now, expecting your income to increase in the future?
- Do you hide purchases from your spouse or other family members?
- Do you have difficulty imagining your life without credit?
- Are you becoming an expert at juggling each month, deciding which bills to pay and which ones to let go until the next paycheck?
- Do you pay off your monthly credit-card bills, but let other bills slide, such as medical expenses and utilities?
- Have you taken cash advances on one credit card to pay monthly payments on other cards?
- Do you feel anxiety when you think about or discuss your financial situation?
- Do you have little or no money in savings?
- Do you make frequent impulse purchases?
- Does your installment debt (not including mortgages) amount to more than 20 percent of your income?
- Has the stress of your financial situation caused severe turmoil in your relationship with your spouse, or other family members?
- Are you at your credit limits?
- Do you fail to keep an accurate record of your purchases?
- Have you started to receive collection letters, notices or phone calls?
- Are you afraid to answer the phone in case it's a collection agency?
How many times did you answer "Yes," to the preceding questions?
0 - You're doing great! Full speed ahead!
1 - 2 You still have a green light. You can probably proceed in relative safety. Your splurging is not out of control . . . yet.
3 - 4 Slow down! You have a flashing yellow light and have entered the severe caution zone. You need to start exercising more self-discipline in the area of finances. It's time to draw up a budget, pay off your debts, and reevaluate your spending habits before you find yourself in over your head.
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