Most of us today carry some debt and how well we manage with that debt may have more to do with our personal financial style than actual money management skills. It is quite possible to be very deeply in debt and not know it or at least not take it seriously. When is some debt too much debt? How can you know if you’re starting to get yourself into trouble?Most of the time, the decision that you have “too much debt” is made emotionally. That is, you have too much debt when you feel you have too much debt.So why do some people panic over small debts but others sleep like babies even when they owe tens of thousands?The answer is that people have an emotional sense of how much debt is acceptable. The danger is that this personal gauge is highly unreliable. You may have gotten it from your family situation, past experiences, or what you saw on TV or in the movies. Your debt style also involves your own maturity level and self control.We also have an emotional response to what is unacceptable, which is sometimes called “hitting rock bottom.” For some people, hitting rock bottom is having […]

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