Don’t have a savings program in place? You’re playing with fire and
placing yourself at the mercy of relying on responsible individuals to help bail
you out. A savings program in place provides you with a safety cushion for
unexpected emergency situations that usually require financial resources. As
the saying goes - “save for a rainy day.” because you never know when it’s
going to pour.

Are you only paying the minimum on your monthly credit card bills?
If you can only afford minimum payments, more than likely you’re overextended
and should re-evaluate your budget and spending habits. Unfortunately, if you
are thrown into a monetary emergency that requires financial resources, your
situation will become unmanageable.

Have you been declined credit or declined a credit line increase?
Being declined credit or a credit line increase is a true blue sign that you need to
re-evaluate your finances. Creditors use guidelines to determine your credit
worthiness.

After you pay your monthly bills, do you accumulate as much or
more debt the following month? This may be a sure indicator that you’re
utilizing your credit cards to maintain your style of living, or for daily necessities
-- such as gas and food.

Can you account for the total amount of debt owed, or have you
avoided adding up the entire amount of your outstanding debt?
If you cannot account for the total amount of debt that you owe, you may be
avoiding the problem. Confronting your spending behavior is the first step to
financial freedom. Sure, it may be easier now to avoid the painful truth that you
are heading toward financial devastation. However, if you establish a repayment
program before the situation becomes unmanageable you will save yourself
hours of unnecessary worry in the long run.

Are your cards close to or over your available credit limit?
If the answer is yes, it's a strong sign that you are not aware of your current
financial situation. In other words, you are failing to confront the fact that your
disposable income keeps dwindling as your balances rise. Creditors assign a
credit limit to you based on your credit history, outstanding debts, and income.
If you are at or near your limit it is a good sign that you are headed for financial
trouble. For more information, view our credit scoring article.

Are you dependent on cash advances to pay on your other credit
obligations? Your income cannot support your life style, and it is important
right now to analyze your budget. You may need to seek outside assistance in
order to clearly see what necessary adjustments are needed to get you back on
track.

Do you purposely hide credit card bills from family members?
Hiding debt from family members is a clear indication that you are aware that a
financial problem exists. The fact that you're hiding your spending behavior from
loved ones indicates that you refuse to confront the situation, but realize there is
a problem.

Do you float or bounce checks?
Floating checks is a practice of issuing checks prior to having the necessary funds
available in your account. This is a clear indication that you are living paycheck
to paycheck, and your finances are in trouble.

Do you avoid answering the phone in fear of demanding collection
agencies and or creditors calls? Receiving collection and creditor calls are
a definite sign that you’re behind on your credit obligations. It doesn't need to
be that way -- call Federated Financial. Getting back on track is easier than
you think.