The Top 10 Ways you can get Crushed by Debt
Debt is a huge burden to the majority of people out there. It’s overwhelming, it’s crushing, and often can set us back in our financial goals so drastically that all seems lost.
If you’re wondering how you can get into so much debt that you don’t know what to do with yourself, today’s your day!
I’ll walk you through the top 10 causes of debt so you know exactly what to do in order to set your financial goals up for permanent failure. Watch the vid, or keep reading.
Top 10 Causes of Debt
Let’s just jump right into this shall we? It’s sort of like David Letterman’s Top 10 here…
Number 10 – Not knowing about finances. You don’t need to know a TON. But you need a little knowledge.
Number 9 – Spending tomorrow’s money. Simply put: don’t buy stuff you can’t afford. If you don’t have the money now, consider long and hard if you should buy something.
Number 8 – Lack of financial communication. In a partnership/marriage, you need to communicate finances and goals.
Number 7 – Not having an emergency fund. Things are going to go south. They always do. Have a slush fund to prepare for that southernly voyage.
Number 6 – Sickness or injury. One of the best parts about living in America (where our GDP is nearly double the next largest country) is we can go bankrupt due to no fault of our own. Yeah, healthcare costs are outrageous.
Number 5 – Gambling it all away. If you’re addicted to gambling, you’ll never get ahead financially until you get that compulsion under control.
Number 4 – Overuse of credit cards. Credit cards are great. When you’re spending that money anyway. Getting behind with them, however, is a burden.
Number 3 – Breaking up. Divorce is messy and expensive. You have to essentially start all over if that happens.
Number 2 – Not having a budget. Your budget can be fine tuned, or open and vague. Personally I have a more vague budget because I don’t have the time to get into the details.
Number 1 – Not making enough money. The biggest cause of going into debt is not having enough coming in.
There you have it folks, the top 10 causes of debt. I hope you imagined me flinging those little cards through the fake window in the background while you read along. But don’t stop yet!
Avoid the Number 1 Cause with No to Grow
Most people have a pretty good grasp on a lot of these concepts.
But what many people have never learned about, is how to make money without resorting to a second job. It’s rarely taught out there!
You can avoid debt by learning how to make money outside of your job. I lay it all out in the No to Grow course. All you have to do is sign up. I guarantee you’ll make some mad stacks of cash in no time.