You Might Have A Personal Credit Crisis If ...

In these tough economic times, there is a lot of discussion about the state of the global economy in general terms. The credit crisis and the various plans to move the nation out of spiraling debt and into more thriving times is the fodder of every media outlet. nnWe can all be armchair critics of the mis-management of our taxpayer dollars, but at this time, a more productive step might be assessing the management of our own personal finances.nnLets take comedian, Jeff Foxworthy's well known sketch "You Might Be A Redneck If" in a new direction with "You Might Have A Personal Credit Crisis If". nnHere are 15 signs that "You Might Have A Personal Credit Crisis If".

Check the signs that apply to you.n

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1. You have NO savings.
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2. You have more than three major credit cards.
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3. You are making only minimum payments on your credit cards.
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4. You are at or near your credit limit on your credit cards.
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5. You are using credit cards to buy groceries.
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6. You are using increasing amounts of your total income to pay off debts.
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7. You use payday loans regularly.
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8. You spend the same amount or more the next month, after paying off your credit card bill.
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9. You are not sure what your total debt amounts to.
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10. You take cash advances from your credit card to pay other bills.
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11. You have had your credit card declined when you tried to make a purchase.
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12. You have been denied credit.
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13. You have bounced checks and had them returned NSF.
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14. You are getting calls from debt collection agencies.
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15. You lie to your spouse or family about your spending habits or hide credit card statements.
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nIt would be cruel to leave you with no solutions to your personal credit crisis, so, nn"You Might Be Taking Control Of Your Credit If" You:nnStop carrying your credit cards with you. nnThe most common response to this is "I need it for emergencies." Ask yourself, "When was the last time you needed a credit card for an emergency?"nnIf you don't have a credit card with you, it decreases impulse spending, and allows you time to find other creative solutions to a financial situation rather than incurring more debt.nnMake a plan before using your credit card.nnMake a list of the items you intend to purchase with your credit card. Plan a spending limit and develop a plan to repay the debt you are about to create. nStatistics show that by simply having a credit card available when you shop, a person is likely to spend 34% more than originally intended.nnGive yourself a 24-hour "cooling off" period before making a purchase.nnThis works especially well with catalog purchases as they are not quite as appealing the next day.nnDiscuss your intention to use your credit card with another person.nnCreative strategies and problem solving skills can be difficult to access when we are feeling anxious and stressed. It can be very profitable to talk to a person who is not going to judge, but will partner with you in finding alternative solutions.