Top reason for your debt?
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Top reason for your debt?
| Wed, 04-15-2009 - 11:16am |
Top reason for your debt?
- Reduced income but not reduced bills
- Divorce
- Poor money management
- Job loss
- Medical bills
- Failed to save for rainy day
- Lack of money management skills
You will be able to change your vote.

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Hard to pick just one reason.
Poor spending my part plus not saving for a rainy day...........plus lack of communication..........
Many things contributed to my "downfall" but those days are over now.
Edited 4/15/2009 11:51 am ET by marie_1229
So I "cheated" and voted for divorce... no, I didn't go through a divorce, but a near-four-year relationship gone sour with his poor money management and deceitful false promises to pay back what he helped me rack up... we're going to call this divorce
-Kels
Parent PLUS education loans to get DD Anne through nursing school. She took out the maximum amount in loans each year and I supplemented with loans I took out. All together, I think we owe $78,000.
Also, my 2000 and 2002 Ford Tauruses. (Anne drives the 2000.) Every month one or the other is in the shop!
Mary Jo
My answer is poor money management. It's not that I don't understand money management, I just chose to ignore my common sense. It's amazing how little I really have to show for my debt. Most of it went to taking the extended family out to eat and shopping, although I ate and shopped with the best of them. I just wanted to make everyone happy, and since that's not for sale there wasn't any end to the spending. So a better answer for me: poor boundaries.
Our biggest debt right now is that we took out a LOC to help our BIL and SIL have a home. We own the home, and they pay rent that just covers the monthly payments on it. Also having a few of the more expensive toys, boat, plane etc. Both things that cost $$ even if they just sit there. So I guess it go under poor management skills and not knowing how (or wanting) to say no.
My current debt is due to a desire to get my son out of
Our debt is the result of a variety of reasons that snowballed into what we have today....we dropped out of undergraduate and got married...yeah...
Then I got pregnant with our only child. So, I went back to school. Student loans....then I went to graduate school....more student loans. My dh went and completed his degree (so proud of him for that!:) ) and another student loan added to the list -- although I paid that one off.....
Gifts (dh is a big part of the gift thing because he loooovvvveees to buy things when we have a good excuse to do so like Christmas or birthdays)....Car payments (could have been avoided if we started on the right foot and had a good income coming in from the get go--would have been able to save up the cost of the
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