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Reduce Credit Card Debt
Reduce credit card debt or go into more debt
How do you know when a little "acceptable" debt becomes a potentially dangerous situation? For some, the question is between reduce a credit card debt or let their family go hungry. For most, the clues are more subtle. As a general rule, no more than 20 percent of your disposable income should go toward debt payments (not including your mortgage).
A "yes" to any of these questions should give a pause for thought; do you need to reduce credit card debt?
1. Is an increasing percentage of your income going to reduce credit card debt?
2. Is your savings cushion inadequate or nonexistent?
3. Are you near or at the limit of your lines of credit?
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