common reasons people get
Unaffordable decisions, lifestyles
and turning a blind eye to financial
problems are all reasons to slide
into debt. Sometimes can come
unexpectedly and turn for the worst
expensive bills, because we live in the
culture where things are costly and
borrowing is easy. When debt became
out of control, people with that problem
feeling powerless and scared for the
getting into debt
Borrowing money is a standard way to make big life changes such as
buying a house, getting a car or starting a new business. If someone with a
steady income takes a loan to pay for something, then also do know that
they will be able to pay it off within a certain time period.
getting into bad habits
Getting to alcohol, drugs, gambling, sex and shopping can all lead to
debts. Even if they know it is bad for them, they will find a way to do it so
they can feel pleasure and aliveness. And they can quickly lead to serious
trying to get fake lifestyle
It is common to feel that, we must have the right clothing, the right
hair and so on. But very few of us can afford these lifestyles, which we
really want. Sometimes we can kid ourselves for a while to spend money
we don't have.
lead to bad decision
Sometimes because of impatience, lack of research and
misunderstanding, we can lead to a bad decision that results in debt. Such
as getting on the property ladder at the wrong time, taking
bad investment advice and taking payday loans etc.
Some people used their credit cards to spend blindly while avoiding
their bank balances so they can quickly lead to huge bank charges that
add up over time and result in serious debt.
live an unplanned life
One very common reason for uncontrollable debt is neglect (Idea of
budgeting). Keeping receipts and building accounting spreadsheets is
enough to make them run for the hills. We can't plan for each thing that
happens in our life. Those unplanned life changes can cost a lot of money.
Such as if one earner dies, the rest of the family might struggle to survive
on a reduced income, because of divorce dividing of two incomes often
results in debt and fires, flood or earthquakes etc.