Why are YOU in debt?
Posted on | June 29, 2009 |
We’ve been hearing a great deal in the news lately about debt. I know a lot of people are in various kinds of debt. Common causes highlighted by the media are the death of a family provider, job loss and medical emergency. I suspect this is because those causes are very dramatic. But what about more mundane and widespread causes?
What about lifestyle creep?
That’s how my wife and I found ourselves in over $12,000 of credit card debt. It happened before we knew it, and once we had a minor medical emergency (sick pet) we realized how bad things were.
Eventually we resolved to take care of our lifestyle issue and dig ourselves out of the debt hole we dug.
So, there you have our problem: Lifestyle creep. What’s yours?
Also, that was mostly credit card debt. We also had car loans, a mortgage and student loans. So, what kind of debt do you have? Is it student loan debt, tax debt, credit card debt?
I’m interested in a general idea of the kind and cause of debt of my readers - even if you’re out of debt now. It’s ok, you can use a fake name and we won’t know. 
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Unique visits since 2008:
June 29th, 2009 @ 11:28 am
No.. I not debt,,
June 30th, 2009 @ 6:29 am
before a year i was in debt than i came across the law of attraction theory and i understand it thoroughly and implied in my life now i am debt free and enjoying my life freely.
July 5th, 2009 @ 7:53 pm
I was in debt due to my study expenses, but thank god I cleared all of them last month.
February 24th, 2010 @ 1:50 pm
[...] asked, “Why are you in debt?”, but not too many people answered, so I got the top 10 causes for debt from [...]