How do you get yourself into debt
- Thread starter cherry123
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- #3
Yeah expenses yet to be paid for can anyone into debt this is why it is always good to pay up.
The easiest way to get into debt is to start living above your means. You would plunge and plunge deep into debts.
That is actually the reason many people are into debts. Personally, am never under pressure to live according to dictates of the society. I live according to my own standard. I don't wear expensive clothes or shoes, those things doesn't move me
Most persons tend to get themselves into debt when they spend more than what they earn. They live life large when what is coming in is not enough to sort out all their expenses, hence they end up with borrowing just to keep up hence leading to debt.
I've never get myself into debt. I do not buy things I cannot afford. I save money for travel and buying big ticket items. Overall speaking, my principle is spend less than you earn.
There are some people who are living beyond their means. Personally speaking, I do not want to be mingling with these people. They are just going to influence me for the worst situation.
This is very correct because once you start spending more money than you used to make, you will always find it very difficult to meet up with your financial standard and you are going to find yourself being bankrupt.
That's why everyone needs to know how much they make per particular period, then, tailor their lifestyle to meet up vwith the level of income while striving to grow that Income level.
