Right now, you’re able to pay the minimums due on credit cards and other consumer debt. That’s a good start, but that means that the items you buy become much more expensive than the initial purchase price.

Paying the minimum is a big sign that you are living close to the edge of having too much debt. You never know when something could upset the delicate balance of your life like losing a job or having a medical emergency. Be prepared ahead of time in case something happens so you can still pay off your debt.