5 Things To Confirm That You Are in Deep Debt

Are you not sure if you are currently having a financial trouble? One of which is being submerged in deep debt. Deep debt happens when you already find it difficult to pay that sometimes you are only paying for the interest, one example of which is credit card debt. But how can you know if you are in a deep debt trouble, lets find out.

Are you in Deep Debt?

You can't wait for the next pay day

You are in deep debt if you are counting the days before the next pay day. You are a bit worried if you can survive with the money you have after paying some of your debts. The problem for most people is, once the money is not enough to survive the daily living expenses, they will accumulate more debt without them noticing it.

You have a pile of unpaid credit card bills

Do you have a drawer in your room or any space where you stock paper stuffs? Now, check if you have a tall pile of credit card bills that are left unopened for some time now. If you do, it could indicate that you might not only be in deep debt but also in a credit card trap.

You find it hard to budget

"How could I budget if I don't have anything to budget." Is this line familiar to you? Many of my friends would tell me that they find it hard to budget even though they earn more than the average employee. One good indicator of having a sound financial status is when you are able to follow your budget, other than that, I guess you are still dealing with debts.

You find it hard to invest

Similar to the point above, you could also find it hard to invest if you are in deep debt because it is highly suggested that you should only invest 'extra' money. How can you have that 'extra' money if you are submerged in debt?

You shy away from answering phone calls from unknown numbers

Some people would not answer a call from an unknown number because it might come from the collection department of their credit cards. If you are one of those, you might be in serious debt problem.

Did some of the points above describe your financial status right now? If yes, then you are in the right place!

Check out more blog post here in Money Gizmo and hopefully you can join me in my journey to financial freedom.