Young people often have money problems. According to foolproofme.org, these problems include payments more than 30 days late, bounced checks, and utilities being turned off. There are ways to get out of this mess:
- Don’t ignore these problems. Call and ask for an extension. You may pay large late fees, but it shows you’re trying to be responsible. However, don’t promise to pay if you know you can’t.
- Get the full picture of your bills. If they amount to more than you’re income, get help. If you’re in school, see the school financial counselor. If you’re not, but you belong to a credit union, talk to administrators there immediately, and be honest.
- Change your lifestyle. Learn to live on a budget. Don’t waste your money. See spendster.org for more information.
Source: Fool Proof Foundation, an independent voice to help you take control of your life, your finances, and your general welfare.