Top reason for your debt?

iVillage Member
Registered: 02-19-2003
Top reason for your debt?
11
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.


Pages

iVillage Member
Registered: 07-02-2008
Wed, 04-15-2009 - 11:33am

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.

iVillage Member
Registered: 03-21-2009
Wed, 04-15-2009 - 11:45am
You should had a spot for sheer stupidity and trying to keep up with the "Jones", but I guess those can go under poor money management.
iVillage Member
Registered: 01-25-2009
Wed, 04-15-2009 - 11:50am
Ur, the only debt I have are mortgage and student loan, so I guess the reasons are needing a place to live (mortgage payment about the same as the on-going rent, plus interest is deductible) and needing an education.


Edited 4/15/2009 11:51 am ET by marie_1229
iVillage Member
Registered: 04-13-2009
Wed, 04-15-2009 - 11:52am

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

 

iVillage Member
Registered: 02-01-2008
Wed, 04-15-2009 - 1:55pm

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









iVillage Member
Registered: 01-01-2009
Wed, 04-15-2009 - 5:10pm

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.









iVillage Member
Registered: 08-02-1998
Wed, 04-15-2009 - 5:44pm

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.





iVillage Member
Registered: 06-25-2006
Wed, 04-15-2009 - 8:37pm
My debt is definitely due to poor money management. I have learned a lot of skills along the way and now I just need to dig out and put what I have learned to use!
iVillage Member
Registered: 03-27-2005
Wed, 04-15-2009 - 9:13pm

My current debt is due to a desire to get my son out of

Avatar for sullengurl
iVillage Member
Registered: 02-16-2004
Thu, 04-16-2009 - 6:57am

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

 


 



Pages