Why do we usually incur debts?

A debt won't necessarily mean something bad or a mess or a pest of your life. In fact a debt is originally neutral. It's how you use the money that determines whether you'll be in a mess or you'll be living like you had no debt at all in the first place. I guess my saying this is somewhat from a naive person's perspective considering that I have not incurred any debts yet in all my twenty years in life and also that I am still dependent on my parent's money to survive. But kindly hear me out because this is what I've learned--not in school--but in life and in self-learning how to handle one's money. If you get into debt in order to buy yourself an asset, and that your asset's cash flow is greater than your debt then your debt can be considered paid not by you but by your assets. If I would incur a debt, I would wish the situation to be like this. Otherwise, I will have to work my butt off to buy myself an asset to pay for my debts. I will never wish to use my income money from working to pay those debts--it's another phrase is "pay yourself first before paying other people". This is my very first and important rule in handling money... One would sometimes need to borrow money or to be in debt in order to earn more instead of earning nothing. I wish this will be the same for others and I hope this helps in a way. Have a nice day and Happy MyLotting!

Most times we tend to get in to debt because we are living beyond our means. If we were to stick to stuff that we can afford with our income, we would most likely stay out of debt. We need to priorities our needs and work within a budget that does not give an allowance for deficit. This way, we would only spend what we have for what we need.

This is easy: People love to spend. Also, emergencies happen and often times, you have to spend that money because of that emergency. I know a lot of people who try to save up money, but often times, something happens, and then they have to pay for it.

We are no longer in debt but we got into debt for a combination of reasons - one was just bad planning, and the other was that we were in school and didn't make very much money.

so far i don't have problems like that. i never borrow money from anyone. i just don't like it. and i don't want to owe anyone for anything. sometimes, when i really need something but can't afford it, i just try to be patient and wait for that time that i can get it. that's really good that you help your mom.

Being in debt is really a mess. It is usually cause by a bad financial planning. You spent more than what you can really afford. Live a life below your income.

Because we spent too much of what we have that's why we ended up having debt. After moving in to my new house now I suffered a lot in debt because of the money I have to spent while moving. But momentarily I get rid of these debt buy cutting some expenses to add for my saving so that I can pay my debt in time. I know I don't have an extra more job to help me to pay for my debt so I just decided to why I should spent too much If I don't have to spent. There's a saying "If the blanket is short try to bend" it means what you have now is what you have to spend.

Hi Deo! Oh yah! you obviously have been loving topics about debt which happens to be allergy to others hahahah! Anyway, we usually incur debts because we are in a hurry to procure something that we have not really banked on. A classic one is the urgent need to pay for hospital confinements. Others, they need to pay for school tuition fees. Also, there are unforgiveable circumstances wherein one wants to buy a gizmo for the pathetic reason for being just a sucker for gadgets, while some just want to get "in" the crowd, while the rest of the sorry some got addicted to shopping using their credit cards. Hayyyyyyyyyy...

I used to have a credit card before until I figured out upon calculating the interest it offers that it sucks! Well, why go for a credit card if you have cash?! I have debit card now. Well, if you don't have cash, why buy this and that? You'll be budget-shorted for sure. Buy only what you need. Stick on your budget. Help only within your reach... your capacity. Don't help if it will be come from debt. Plan ahead. Plan wisely. Do save from your paycheck regularly. It will help your future. Do invest. Mutual funds, bank deposit and the likes. Choose where you're comfortable. You'll surely thank yourself having investment at a young age in your future. Plan and go for a business if possible. If you're in bebt now, clear yourself and stay away forever in debt. Then follow my above listings. I'm in investing level now... and planning for a future business. But the business, I think will not this soon...