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Cents and Sensibility

Are You in Debt Denial?

Many people are in denial about their debt and do not even know it. So let’s be serious for two minutes. Are you in debt denial? Let’s find out now:

1. Do you delay opening up your mail, thinking to yourself “I will pay them one day”?

2. Has your debt significantly increased within the last 12 months and you have done nothing differently to reduce it?

3. Did you buy a brand new car, with no savings, and you live in your mother’s basement?

4. Did you purchase a residence and assumed that (in the future) when you get a better job, you will be able to catch up on your mortgage?

5. Did you borrow money for you and your family/friends to take a vacation?

6. Did you justify certain items that you purchased based on what those around you have?

7. Are you not saving for retirement because you are assuming that your financial situation will be better before your retirement age?

8. Did you put in your two weeks before you had a backup plan, but realizing that you didn’t really have a plan at all?

9. Do you think that your spouse spending a lot of money (unnecessarily) on gifts (unaffordable) for you is “very nice/cute?”

10. Do you owe so much in debt that you don’t know how much (an actual dollar amount)?

If you answer yes to at least five of these financial questions, you are in denial. Click HERE for my tips on how to kill debt one bill at a time.

About Dr. Karen Ratliff

Karen Ratliff

Credit: Dr. Karen Ratliff

Dr. Ratliff is a certified life coach and professional educator, assisting many people in accomplishing financial, career, and educational goals.  She is also the author of “Tightening Your Bootstraps: 104 Tips to Kick Your Debt to the Curb Now.” Keep up with her budgetary advice via Twitter @drkarenratliff