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Top Ways to Get Into Financial Difficulty

27 items ranked

Most of us have done it in some way, at some point, but others have mastered the art of getting into debt. Here's how they did it.

Rated 0 points - posted 13 years ago by moochacha in category Other.

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1.

Lack of self-discipline

58 points - added 13 years ago by moochacha -

2.

Too many credit cards

44 points - added 13 years ago by moochacha -

3.

Going nuts with credit cards

What you're buying isn't free just because you're paying with plastic.

44 points - added 13 years ago by moochacha -

4.

Never saving money

We should always save at least 10% of every dollar we receive so we're never in a compromised position.

44 points - added 13 years ago by moochacha -

5.

Failing to budget

We ALL HAVE TO BUDGET!!!

37 points - added 13 years ago by moochacha -

6.

Instant gratification

As a nation, we in the U.S. think we need everything now, and often don't save anything to get it when we can afford it.

37 points - added 13 years ago by moochacha -

7.

Imagining "things" will make you happy

A very dangerous and incorrect assumption.

37 points - added 13 years ago by moochacha -

8.

Acting on Advertising

Advertisers know what to say and do to get you into a buying trance; don't fall for it; sleep on it.

32 points - added 13 years ago by moochacha -

9.

Drug or alcohol habit

Now that's a problem that just spirals out of control very quickly.

32 points - added 13 years ago by moochacha -

10.

Taking out loans to pay other debt

It's not rocket science--it all has to be paid back.

32 points - added 13 years ago by moochacha -

11.

Expensive habits like the lottery and gambling

These are sicknesses that must be nipped in the bud through professional counseling.

27 points - added 13 years ago by moochacha -

12.

Shopping out of habit or boredom

27 points - added 13 years ago by moochacha -

13.

Living in the future

If you're spending habits are based on what you imagine will be, rather than what is, you could get a very rude awakening.