Broker Check
Michael Constantino, Sr. - The Legend Group -
Michael Constantino, Sr. - The Legend Group -
The Legend Group Financial Advisor
https://www.constantinowealthsolutions.com/ (716) 691-8753

","EmailDisclosure":"

Advisory Services offered through Lincoln Investment, or Capital Analysts, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker-Dealer, Member FINRA/SIPC. 

IMPORTANT: Electronic mail sent through the Internet is neither secure nor assured to be delivered on a timely basis. We strongly recommend that you do not send confidential personal information, such as social security numbers or account numbers, to us via electronic mail. Do not send time-sensitive or action-oriented messages to us via electronic mail. Unsolicited instructions to “buy” or “sell” a security or to conduct any other financial transaction may not be honored.

","UseEmailDisclosure":true,"LeavingSiteDisclaimer":null,"FacebookUrl":null,"TwitterUrl":null,"LinkedInUrl":null,"YouTubeUrl":null,"Licenses":null,"IsFINRADemo":false,"MastheadImageUrl":null,"WebsiteUrl":"https://www.constantinowealthsolutions.com/","PrimaryPhone":{"Number":"(716) 691-8753","Type":0},"SecondaryPhone":{"Number":null,"Type":1},"TertiaryPhone":{"Number":"(716) 481-0204","Type":2},"Masthead":null,"UserEmailNotifications":["msconstantino@lincolninvestment.com"],"AgencyName":null,"HeaderBackgroundColor":"#ffffff","TitleBackgroundColor":"#293371","TitleTextColor":"#ffffff","ButtonBackgroundColor":"#227230","ButtonTextColor":"#ffffff","CustomLogoUrl":null,"ProfileDetails":null,"CtaLabel1":null,"CtaUrl1":null,"CtaLabel2":null,"CtaUrl2":null,"CtaLabel3":null,"CtaUrl3":null,"RootLocation":"https://www.mike-constantino.com/","ExternalID4":null,"InstagramUrl":null,"IndividualLicenses":null,"CompanyLicenses":null,"WebsiteEmail":null,"UseWebsiteEmail":false,"CalendarUrl":null}

Spotting Credit Trouble

Money Read Time: 4 min

As of February 2025, the average American had a credit card balance of $6,455.1

The wise use of credit is a critical skill in today’s world. Used unwisely, credit can rapidly turn from a useful tool to a crippling burden. There are a number of warning signs that you may be approaching credit problems:

  1. Have you used one credit card to pay off another?
  2. Have you used credit card advances to pay bills?
  3. Do you regularly use a charge card because you are short on cash?
  4. Do you charge items you might not buy if you were paying cash?
  5. Do you need to use your credit cards to buy groceries?
  6. Are you reluctant to open monthly statements from creditors?
  7. Do you regularly charge more each month than you pay off?
  8. Do you write checks today on funds to be deposited tomorrow?
  9. Do you apply for new credit cards so you can increase borrowing?
  10. Are you receiving late and over-limit credit card charges?

It is important to recognize the warning signs of potential credit problems. The more quickly corrective action is taken, the better. Procrastinating might result in financial difficulty down the road.

1. Forbes.com, April 28, 2025

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Have a Question?