“Are You A Confirmed Plastic Addict ?” is a different kind of lesson that will allow you to take a 15 question true and false test to reveal your status as a credit user.
In solving any debt, credit or home ownership problem, the first step is identifying it. There are always options available to overcome challenges. My objective, as in other lessons is for you to self evaluate where you are in your financial life . Then to take positive actions to correct your course, and prevent future issues to become fiscally fit.
These 15 questions are designed as a wake up call. Using a sheet of paper, take the following true and false 15 question test:
_____ 1) Having a credit card will give me (give me) a sense of security.
_____ 2) I purchase more (expect to purchase more) from retailers who will extend me credit.
_____ 3) I often pay for eating out or purchase gifts to impress others.
_____ 4) Credit cards (will) help me improve my life-style.
_____ 5) Having credit allows me to buy the things I want now.
_____ 6) I often argue with myself or family members or others about over-spending.
_____ 7) My savings account balance is negatively affected by credit-based spending.
_____ 8) I often have trouble recounting the money I have spent during the day.
_____ 9) Other people I know overspend, and it doesn’t seem to hurt them financially.
_____10) My closet if full of things I have only used once or twice.
_____11) Many things I purchase, I wish I hadn’t by the time I get home.
_____12) I am often (can be) a few days late with some payments, but it doesn’t matter much
_____13) I have borrowed money from friends and relatives that I have not repaid.
_____14) I make impulse purchases to make me feel better.
_____15) I charge things like meals, gas and groceries that are gone when the bill arrives.
Now add up your true(s) and false(s) – scoring next
_____ None True: A credit worthy person.
_____ 1 or 2 True: Just barely “OK”
_____ 3 – 5 True: Suspend credit-based spending.
_____ 5 –10 True: You may be a “debt-head”
_____ 11-15 True: A confirmed plastic addict.
Put those credit cards in a glass of water and freeze them solid.
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