Dept Payments Indicate Financial Trouble
It’s amazing how easily people manage to avoid facing up to the financial trouble they’re in due to debt. As long as people can make their minimum credit card payments and still pay the mortgage, they keep on spending until the situation is critical.
The only way to avoid serious financial trouble is to be realistic about your debt payments. Experts advise that if your debt payments amount to more than 15 percent of your income, it’s time to do something fast to change the situation. That means dropping debt payments to a more realistic level fast.