You've Maxed Out Your Credit Card: Here's What You Do

Congratulations! You've Ubered and Grubhubbed and online-shopped your way into credit card debt. Now you're an adult who's incurred enough debt to make a credit card company very frustrated with you. Welcome to the maxed out club!

The first time you realize that you've maxed out a credit card, you may panic, but there are many recourses you can take that aren't openly advertised by credit card companies. Some will impact your credit score more than others, but if you've come this far, you've probably realized that a credit score is just life's homework, and there's always a way to half-ass the assignment during homeroom.

Debt Forgiveness

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Listen: Credit card companies are like distant relatives from whom you've been forced to borrow money. You are fully expected to pay it back; but sometimes they just give up on you. If you've been missing multiple payments and are clearly falling behind what you could ever feasibly repay, you can call your creditor to negotiate a way to settle your debt. You reach an agreement to pay a lower amount than what you owe, and they agree to forgive the difference.

It's not a perfect plan, however; a note is added to your credit report that you've settled a debt you couldn't pay. Your credit score could take a hit, plus any forgiven balance over $600 is counted as "taxable income" by the IRS, meaning you could end up owing taxes on it.

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How Negative Self-Talk Makes You Bad with Money

With finances being one of the most common sources of stress, anxiety-induced habits of negative self-talk and pessimistic thinking can affect how you deal with your money situation. As common as budgeting problems are, how you approach your personal finances can have a powerful effect on your money money management. From second-guessing your expenses to internalizing shame about spending money, these are the signs of negative self-talk and how you can improve your financial skills.

1. Identify what negative self-talk is to you

For some, it's a sense of creeping doubt that you don't have as strong a handle on your finances as you think. For others, it's pressure to live a lifestyle that isn't realistically feasible for you yet. In whatever form it takes, having an inner voice in your head that denigrates your own money instincts and abilities to learn better habits is a serious deterrent to your financial growth. Even if you were raised by a guardian who instilled in you anxieties over money, assess your own situation and your own habits realistically. Acknowledging your natural strengths is just as important as acknowledging your limitations.

2. Know your triggers

Psychology Today emphasizes the importance of triggers of self-criticism, writing, "The critic is a voice that you have internalized based on outside influences and learning such as other people's criticism, expectations, or standards." Maybe you're more prone to question your financial skills around bills' due dates or in certain environments, like work or the bank. Keeping track of your negative thinking by jotting down notes in your phone or in a journal can identify the patterns that trigger the habit, which is the first step to changing your environment and controlling your responses to certain situations.

3. Talk about money

Speaking about your finances may feel Iike a social faux pas, but when it comes to your partner, close friends, or family members, you should be willing to open up and break the taboo. But as The New York Time details, "It's hard to learn about something when you're discouraged from talking about it. In that way, silence becomes a tool for oppression." Embarrassment and insecurity are common feelings everyone shares about money; discussing them in the open is more likely to relieve those fears than actualize them.

4. Think positively (and create a budget!)

After you've identified your patterns of negative thinking and you're willing to open up about your insecurities about money management, the final and most important step is to make positive change. Staying educated about the economy can help you stay affirmative about what you've achieved, which boosts your confidence when you sit down to plan for your realistic goals. Experts spoke to The New York Times about using budgeting apps to track and plan your spending. Looking to the future with a firm grasp on your bad habits and room to grow is the best anyone can hope for. As author and financial expert Kristin Wong says, "Even the 'experts' slip up every now and then, because to be bad with money is to be human. So don't be too hard on yourself."
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What to Look for in an Internship

Even though we're led to believe that internships are the key to successful careers, we're also wary of companies that take advantage of the free labor, relegating interns to coffee runs or leftover tasks that don't enhance professional development. Students, new graduates, or even professionals looking to change careers and gain experience in an unfamiliar field can avoid being taken advantage of if they know their rights under the Fair Labor Standards Act (FLSA). For example, unpaid internships are legal under federal law, but only if it meets specific criteria, and too often companies play fast and loose with the details of an internship in attempts to qualify. Here's the best advice from employers and labor activists about what to look for in a company's internship program.

1. Be clear if the position is paid or unpaid

The FLSA requires employers to pay employees for their work, but what defines an "employee" from an "intern?" Officially, courts impose the "primary beneficiary test," which is a loose set of criteria that only defines the difference in terms of how the employer and the intern understand the position. Namely, if the internship provides more benefits to the employer in terms of labor, cost, and company services, then the intern must be regarded as an employee. Conversely, if the position provides professional training comparable to an educational environment, enhances (rather than inhibits) the intern's coursework, and both the employer and intern clearly understand that no paid job is promised at the end of the program, then (and only then) is it legal to not pay an intern. Additionally, if the company is a non-profit, then they're granted an exception and may count unpaid interns as volunteers

2. Look for positions relevant to your field

The point of an internship is to gain professional experience and training. Look for opportunities that have built-in support systems to provide hands-on experience in the field of your choice. Be clear about what duties will be expected of you in the position.

3. Ask about mentors

In addition to gaining experience, the goals of an internship include meeting mentors who are invested in your progress. Particularly strong programs allow interns to access higher level executives. This will not only help you network in your professional future, it will enhance your understanding of the field.

4. Be aware of time commitment and living costs

Since unpaid internships can't guarantee a paid position at the end of the program, pay attention to how long the internship lasts and if the time investment will be worth it. Be careful to consider if your lifestyle can be maintained for that duration of time. Even if the position is a paid opportunity of your dreams, like the Disney College Program, be clear if the internship is limited to one-semester or longer. For example, the Disney internship is only available to enrolled students, lasts one-semester, and requires an application fee as well as a housing fee.

5. Relocation

The last point is especially crucial if an internship requires relocation. Ideal opportunities are worth the sacrifices of time and even creature comforts, but they need to be feasible. If you're required to relocate, don't jump to apply unless you're reasonably certain you have the means and willingness to change your environment. Does the internship offer housing? Is there's a fee, how much is it? Does the program compensate transportation costs? Be certain you know the answers before you apply.

Internships are strong enhancements on resumes and can introduce you to a network of professionals to begin your new career. However, legalities and logistics are vital to work out before you apply to a program that could take advantage of your time, energy, and skills.

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5 Signs It’s Time to Quit Your Job

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Whether you're bored or completely overwhelmed without enough resources, it may be time to leave your current position and seek out better opportunities. The Bureau of Labor Statistics finds that Americans are quitting their jobs at the highest rate since 2001. While it's normal to occasionally feel stuck or unsure of your next step, if those feelings persist and worsen then it's probably a sign you've outgrown your job. Economists, employers, and job recruiters share 5 common signs that it's time to change your work situations.

1.You're not being challenged

If your heart isn't in your work, then slogging through the daily grind isn't worth the pay. Maybe the company has changed from its original direction or your duties have been altered so that it's no longer the right fit. Take stock of the company's future and your place in it. If you can't see it aligning with your passions, then it's time to brush up on your skill and move on.

2. You're being under-utilized

You may find yourself bored and frustrated because you're being overlooked in the workplace. Whether you've been repeatedly passed over for a promotion or your bosses deny your requests, you shouldn't feel useless or ignored. Suzy Welch at CNBC describes the feeling, "You're stuck in the kind of job I call a 'velvet coffin' — comfortable, but deadly to your brain and spirit, not to mention your career."

3. You're not paid enough

Whether the company has downsized or your haven't received a raise in years, your compensation should be commensurate with your performance and skill levels. Similarly, if you've been asked to take on extra tasks but your pay doesn't reflect your increased workload, that's a sign that you're being underpaid. As always, consider the future and see if you have room to advance in your current position. If not, you should create an exit strategy.

4. Your health is affected

Stress can negatively affect your energy levels, your mood, and your physical health. Worse is the fact that high stress and anxiety can create a lethargy that harms your work performance. If your sick days are increasingly due to dread or fear, then your body is telling you that you need to find a healthier and more productive environment.

5. Offensive workplace behavior

Obviously, if your superiors or co-workers repeatedly exhibit negative, offensive, or inappropriate behavior, you have every right to look at other positions. While a company should provide protocols to report such behaviors to Human Resources, you may also want to consult an employment attorney who has your best interests at heart. Like putting your health first, you should protect your sense of security and safety.

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