debt

8 signs you're flirting with financial ruin

Counting on a future windfall
Counting on a future windfall

Basing your plans for financial stability on a future payoff, such as an inheritance, a run-up in the value of your home or a big tax refund can put your finances in dire straits.

It's also a symptom of a bigger problem -- rationalizing when it comes to your debt, Boucher says.

"You're planning on a bonus that doesn't materialize, or what we saw happening not too long ago, with people saying, 'I can always suck more equity out of my property,'" he says. "If you think like that, you're really setting yourself up for a fall."

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CARDS WEEKLY NEWSLETTER
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

Debt Adviser

Pay off $30K in card debt

Dear Debt Adviser, What is the best way to get rid of credit card debt? Due to a job income decrease, I have added to my credit card debt over the last two years. I rarely use the cards anymore. I pay the recommended amount... Read more

advertisement
Partner Center
advertisement

Connect with us