Reasons people stay in debt Debts are almost always inevitable. For most people, it’s almost impossible to own a home, a car, pay bills or even get an education without having a credit card. Unfortunately, many people are up to their necks in debt, and a lot of them are doing nothing towards repayment. Staying in debt has several reasons and learning about them might help you dodge them.
Living beyond your means It’s quite self-explanatory, but in brief, it’s when you spend more than you’re bringing in. If what you are earning cannot easily cater to your house expenses, vehicle repayments, insurance, or other fixed costs, then you cannot afford that kind of standard of living. It is even worse if you tend to use credit cards to pay for what your income cannot support. What happens is that debts start to accumulate and interest month after month and before you realize it, you’re in