Why do most people take on so much debt and get in big trouble financially?
Three reasons.
All three of these described me perfectly. What about you?
- Ignorance. This does not mean being stupid. It means lack of understanding or knowledge.
- Indulgence. Impulse buying, get rich quick mentality, easy money.
- Poor planning. Not being trained on how to handle money.
The good news is, handling money is a skill anyone can learn. You don’t need to be super smart or be a math genius.