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Analyze Your Circumstances

Almost everyone has debt, but having too much debt can lead to problems financially, emotionally and physically. Check in with your debt management by answering the following questions:

  • You spend more than 20 percent of your monthly take-home (net) income on consumer debt — not including housing debt.
  • You miss payments or pay them late.
  • You have overdrawn your checking account more than three times in the year.
  • You borrow to pay off other debts.
  • You only make the minimum payment on bills.
  • Collectors are calling.
  • You borrow from retirement accounts or use credit cards to pay monthly bills.
  • You have to take an extra job just to pay your bills.

It really doesn’t matter right now if you answered yes or no for most items, no one is judging your debt management, and most of us can use some help in certain areas. Use the Credit and Debt Plan Worksheet to answer these questions for yourself.

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