Ten signs of a need for a financial makeover
1. All of your assets are attached to loans.
2. You have less than $500 in your savings accounts.
3. None of your friends or family members will loan you money.
4. You are ignoring bill collectors.
5. You can't get approved for an auto loan without a high interest rate.
6. You are afraid to visit your doctor/dentist because of the co-pay fee.
7. You have no idea how you are going to pay next months bills.
8. You and your spouse constantly argue about financial matters.
9. You visit the pawn shop on a monthly basis looking for a loan or selling your personal goods.
10. You are considering doing something illegal to cover your debts.
BONUS 11. You visit casino's because you can't pay your bills.
Avoiding D.E.B.T. Tip of the Day
Don't believe that mimicking the investment practices of wealthy individuals gives you the best chance of overcoming your poverty. They can afford to forego extra mortgage payments for the purposes of investing in risky business ventures. Your best bet is to payoff the one thing that sucks up most of your lifetime income as quickly as possible; the mortgage loan. Remember, when a wealthy person obtains a mortgage loan, it is typically not due to an affordability issue. They just have the leverage to risk their savings on the possibility of more lucrative investments. Those that obtain a mortgage loan because of the inability to purchase a home can't afford to take the same risk. They are better off paying down that loan as quickly as possible because they will likely save hundreds of thousands by avoiding so much accrued interest.