Debt Review

1
Common Reasons People Get into Debt

• 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
  future.

2
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. 

3
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 money problems.

4
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.

5
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.

6
Spend Blindly

• 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.

7
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.