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Ontario|Debt and BankruptcyDebt and Personal Bankruptcy 246 Warning signs of financial difficulty Recognising the warning signs of financial difficulty at an early stage is an important step towards preventing unmanageable debt. First, look at how you use your credit cards. Although responsible use of credit cards is acceptable, bad spending patterns can gradually result in a growing debt. Credit card warning signs include things such as only making the minimum monthly payments, sometimes missing payments, using your credit cards for necessity rather than for convenience, and borrowing from one credit card to make a payment on another credit card.
Second, look at how you manage your money generally. You may be heading for financial difficulty if you are spending more than you are earning each month, or if you can't keep track of what money you are spending, what money you owe, and when your bills are due.
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