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Name at least three consequences for excessive debt.
Weegy: Below are some common examples of the effects of having too much debt. Credit score About 1/3 of your credit score is based on how much debt you have. [ Having open accounts does not necessarily mean you will have a low credit score, making you a higher risk. However, owing money on several account will result in a lower credit score. Ability to obtain credit As mentioned, having too much debt will hurt your credit score. Lower credit scores mean that you will have a difficult time getting approved for certain types of loans and credit cards. Get more info on the effects of credit card debt on mortgages. Self-esteem Being in debt can have a big effect on how you feel about yourself. Having low self-esteem can snowball into many different issues, i.e. appearance, cleanliness, etc.. Illness Being in debt causes stress. Too much stress can make you physically ill. Sleep Stress will also result in difficulties in sleeping.Relationships Having high debt can result in money fights with your spouse. Couples usually have different views as to what is important/necessary and what is not when money is tight. Unfortunately, money issues is one of the top reasons for divorce. Getting divorced will not eliminate the problems though. It is crucial that you pay close attention to the status of all of your accounts, individual and joint when going through divorce ] (More)
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Expert Answered
Asked 4/9/2013 1:50:13 PM
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Grace makes $2,200 per month. She spends $300 on credit card payments, $120 per month for a furniture purchase, and $450 on an auto loan. Does she have excessive debt? yes no
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Not Answered
Updated 4/23/2013 6:39:21 AM
1 Answer/Comment
No, she doe not have excessive debt. $1,330 will be the amount she would have left.
Added 4/23/2013 6:39:21 AM
Kevin wants to create a graph to show how his investments and savings accounts have increased over the past year. What tool should he use? bill pay a spreadsheet online banking graphic software
Weegy: Kevin wants to create a graph to show how his investments and savings accounts have increased over the past year. What tool should he use? bill pay a spreadsheet (More)
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Asked 4/10/2013 10:45:21 AM
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The rate of return is the money that is returned to you when you sell an investment? True False
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Updated 9/25/2013 1:00:13 PM
1 Answer/Comment
true
Added 9/25/2013 1:00:13 PM
Rated good by krysta.18
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