Are you in a Debt Spiral?

WorryIf you’re struggling to make ends meet you could quickly find yourself with debts that suddenly start spiraling out of control. You may be forced to borrow money to make it through the month – everything from paying your rent to the weekly shop, while your debts mount up and up.

We want to help you avoid this devastating situation and help get your finances back on track. There’s lots of support out there to help you manage your money better – burying your head in the sand and hoping the problem goes away is never the best solution. So take a few minutes to read this article and see how you can start getting your finances back on track.

Seven sure-fire signs you’re in the debt spiral

Can you answer yes to any of the following questions?

  • You’re paying for your living expenses with credit.
  • You’re always at least one month behind on your bills.
  • You have trouble getting credit.
  • You regularly spend more than you earn.
  • You’ve missed more than one mortgage or rental payment.
  • You’re actually borrowing money to pay your debts.
  • You feel out of control financially, and it’s affecting your mental health.

If you have answered yes it’s time to act – and quick. We’ve put together 10 steps to start tackling that debt spiral before it’s too late.

Source: FlagShip