Unpack the complexities of 8 things that get you into debts as we shed light on how it impacts debts today.
1. Insufficient savings or emergency funds
2. Overspending or poor budgeting
3. High-interest loans or credit card debt
4. Medical expenses or health issues
5. Job loss or income reduction
6. Education expenses
7. Housing costs or mortgage payments
8. Lifestyle inflation (spending more as income increases)
Debt can be managed with:
- Budgeting and financial planning
- Building emergency funds
- Paying off high-interest debt
- Avoiding unnecessary expenses
- Increasing income
Would you like debt management strategies or resources?
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