Warning Signs Of Financial Problems From 4 Pillars In Victoria

While sudden and unexpected issues can cause financial hardship in any family, most debt is accumulated over time. Unfortunately, people often miss the warning signs of pending financial problems and continue to spend and live their life without thinking about making changes to reduce their debt.

The team of debt consultants at 4 Pillars in Victoria has put together a list of the early warning signs of pending financial difficulties that are often overlooked or ignored by most individuals and couples.

• Mounting credit card balances – while it is not necessarily bad to carry a small balance on credit cards, it should be low. To avoid hurting your credit score, it should less than 30% of the limit for the card.
• Loss of income – large monthly bills and a decrease in income is a deadly combination when it comes to paying off debt. Missing or partial payments can add up in interest, fees, and penalties.
• Making only the minimum payments – only making minimum payments on a credit card can result in thousands of dollars of interest over the years. As the interest grows, so does the amount paid over time.
• Emotional stress around money – couples and individuals often try to hide debt issues by simply spending as normal. This leads to increased stress as monthly bills increase without any way to make payments.

Early recognition of these warning signs allows you to make an appointment with a 4 Pillars debt consultant in Victoria. Call 4 Pillars today at 866-690-3328. We can schedule an appointment with people in the Victoria area within a few business days.