Some questions to ask about debt problems

August 14, 2005|By Marshall Loeb | Marshall Loeb,KNIGHT RIDDER/TRIBUNE

NEW YORK - No matter the size of your paycheck, if you spend it, save and invest nothing and just add to your debt, your chances of a comfortable retirement are slim.

In their book Girl, Make Your Money Grow!, Glinda Bridgeforth and Gail Perry-Mason have created a list of questions to ask yourself, if you're concerned that you might be a compulsive debtor:

Does worry over debts keep you awake at night or interfere with your work?

Do you get cash on your credit card to pay for rent or food?

Do you feel inadequate because you've run up debt?

Are you afraid to balance your checkbook?

Do you always come home with a shopping bag of so-called bargains?

Do you keep secrets from your spouse or partner about debts?

Do you spend now, believing you'll save when your big break comes?

Are you too proud to seek professional help?

Bridgeforth and Perry-Mason say help is available at: www.DebtorsAnonymous.org.

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