Cherrietgee profile image 77

Why are people in debt?


I know that people are in debt because they spend more money than they make, but I want to know the specifics about why and how people end up in debt. I'm not asking for anyone's personal information, just the things people do (decisions they make) that result in financial troubles.

 

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LandmarkWealth profile image79

LandmarkWealth says

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5 years ago
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  • MarleneB profile image

    Marlene Bertrand (MarleneB) 5 years ago

    I, shamefully admit, I was in debt for a while because I lived beyond my means - going on exotic vacations, having the best of everything. Putting it on the credit card. It finally caught up with me. Now, I live a simple and pleasant life.


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PageC says

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5 years ago
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rhammond64 profile image59

rhammond64 says

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5 years ago
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  • Cherrietgee profile image

    Cherrietgee 5 years ago

    rhammond64, I was one of those people who thought that budgets were dumb. When I actually kept track of my monthly spendings and realized just how much money I was spending on frivolous things, I really made some changes. Thanks for sharing.

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ackman1465 says

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5 years ago
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digitrocks says

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5 years ago
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  • Ari Lamstein profile image

    Ari Lamstein 5 years ago

    Good point digitrocks. The first decision that many Americans make as adults is to take out large student loans at age 18.


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Larry Wall says

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5 years ago
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  • Cherrietgee profile image

    Cherrietgee 5 years ago

    Thanks, Larry. I'm taking your advice and example to heart.