So we’ve talked about the consequences of excessive debt, but how do you know if you’ve hit this point? Here are some signs you may have excessive debt:

• Your Total Debts Account For More Than Half of Your Income
• Your Debt Balance Stays the Same Despite Regular Payments
• You Don’t Have an Emergency Fund and Are Unable to Establish One
• You Rely On Credit Cards Because You Run Out of Money Before Your Next Paycheck

Now obviously having excessive debt can be a bit scary, but once again, we’ve got your back. Try and remember that it’s only one part of your journey and it’s a part you can move on from. Financial wellness still lies ahead.

Financial Beginnings is a national 501(c)(3) nonprofit that empowers youth and adults to take control of their financial futures. Their educational programs incorporate all aspects of personal finance to give individuals the foundation they need to make informed financial decisions. Financial Beginnings reaches more than 200 K-12 schools and colleges and more than 100 community-based organizations annually, serving all groups with special focus on populations most in need. For more information, visit www.financialbeginnings.org.