Once you understand the 10 items most responsible for consumer debt, you can identify those that apply to your own finances. Knowing what is causing your financial woes is a very important step in eliminating it. Don't let consumer debt continue to eat away at your income. Empower yourself to get past these issues:

1. Buy now, pay later - Too many people are buying what they want now and then worrying about how to pay for it later. It is very important to live within your means. Credit cards should only be used for emergencies. If you want something then you need to save for it.

2. High rates of interest - Some consumers only focus on the low monthly payments. They don't stop to see that high rate of interest. Therefore they don't see how much that item is really going to cost them in the long run.

3. Not preparing for surprises - Life is going to throw us all some curves. We can't avoid them but we can be ready for them. Consumer debt often spirals out of control because they household has no funds aside for emergencies. If someone loses their job, gets sick, or a big expense comes up they don't have the funds for it.

4. Not sticking to a budget - The number of households that don't have a budget is unbelievable. They family just spends all that comes in, and often more than that each month. They don't keep track of their bills or where their extra money is going.

5. Divorce - With more than 50% of all marriages failing these days, it can certainly lead to consumer debt. The family goes from having two incomes to pay for expenses to having to cover them for two separate sets of expenses. That can be very difficult to do and a financial hardship.

6. Too many expenses - It is possible for a family to have too many expenses for their income. These days the cost of everything including shelter, food, and even fuel is increasing. For those on a fixed income or that work for minimum wage it can feel like they get further and further behind each month on their financial responsibilities.

7. Not understanding their financial obligations - In school people tend to learn all types of things. Consumer debt isn't likely to be one of them. Many people tend to handle their finances like their parents did. This can mean the cycle of getting in over your head continues without a second thought.

8. Keeping up with the Jones - This is an old saying but one that is very common in our society. Consumer debt is often something that derives from trying to keep up with everyone else. This can lead to debt for a bigger home, new cars, and vacations.

9. Not saving money each month - A portion of your take home income should be allocated for savings. Yet most households don't do this. If you get paid by check then have the funds taken out and directly deposited into your savings account. This way you won't be tempted to spend that money for something else.

10. Not asking for help - Too many people are embarrassed to ask for help with their finances. Many couples don't even discuss the issue with each other. There are plenty of great resources out there that can help you get into a very difficult situation.One such resource is a course by John Cummuta to help those in debt.