Personal Finance Universe

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Thursday, October 4, 2007

6 Signs You've Got Too Much Credit Card Debt

Swiping the plastic so much your credit cards have skid marks? Via Kiplinger, here's six warning signs to watch out for that might indicate you're abusing your credit cards.

6. You often rack up fees for late payments and/or exceeding your credit limit5. You borrow from one card to pay another4.

You don't contribute to savings or retirement plans because of your debt3.

More than 20% of take-home pay goes to making payments on credit cards and non-mortgage loans2.

You use plastic because it's the only money you have right now1. You can't make minimum payments on your cards.

If any of these describe you, give 10 Ways To Break A Compulsive Spending Habit a read.
Don't Let Debt Get You Down [Kiplinger]

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