Heading for Financial Trouble? Take This Quick Quiz and Find Out

NEW YORK (MoneyTalksNews) —Whether it’s your physical health or your financial health, it’s important to watch for signs of potential trouble ahead.

Feeling blue more often than you should? You could be suffering from depression. Nose running? Could be allergies. Is that cut on your arm turning red and puffy? That’s a sign of infection.

Not opening the mail or only making minimum payments on your credit cards? You could be on the verge of a money malady.

Here’s a story Stacy recently shot listing a few signs you may be heading for financial trouble. Check it out, then take the test that follows:

Now you’re ready for the test to see if you could be heading for a debt disaster. If a statement doesn’t apply to you, skip to the next question. All you have to do is keep track of the number of statements that fit.

1. I make minimum payments.

Minimum payments are designed to maximize profits for lenders, not you. If you’re only paying the minimum, odds are you’re living beyond your means.

2. I regularly pay bills late.

We all occasionally space out. But if you’re missing payments because you don’t have the money, that’s a very bad sign. And if you’re missing them because you space out, enroll in auto-pay.

3. I move debts from one lender to another.

Moving a debt from a high-interest credit card to a zero-interest one can be a sound strategy. But engaging in a shell game by moving balances from one lender to another is dangerous. Don’t dance with your debts; pay them off.

4. I need overtime to make ends meet.

This is a sure sign you’re spending more than you’re making. What will you do when the overtime dries up?

5. I’ve taken money out of a retirement plan to pay bills