[jhd815]

For me it was when I realized that I couldn't afford to pay my monthly bills. At the time I was living from paycheck to paycheck and working two part-time jobs. I hated that I had put myself in such a position financially. The main reasons for my difficulties were that 1) I had no budget (I just spent money willy nilly and hoped to have enough when the bills came later), and 2) I was not living within my means (maxing out credit cards, applying for more cards, paying minimum monthly balances only).

It took me 10 years to get myself on track financially and in a position where I could buy a house, save money, pay my bills, etc.

Earlier this year I paid off the final payment on my credit card balances and got out of credit card debt. I've educated myself about money matters, savings, investments, retirement planning and I've still got a long way to go. At least now I have a plan and I know what steps I need to take to reach my financial goals.