Definition: debt is something (especially money). Debt is a very bad thing, it is the only thing that can hold you back from quitting a most frustrating job, and it can prevent you from living a luxury life, going on holiday and lot more.

Debt is the only thing that makes your heart leap to your mouth every time your phone rings or there is a knock on your door. Infant debt can take away all the goodness of life if one get into it.

If you want to be poor and die in poverty, these are the things you should do. Relax while you perform this and you will wake up one morning poorer than the church rat.


CAUSES OF DEBT
1. Spending more than what you earn. This can lead you into debt for instance if you earn 14,000 per month and you spend more than that and start taking from your savings.
2. Using money you don’t have by using credit card and taking out loan. Credit card gives false impression of security: you end up thinking you have what you don’t really have.
3. Use credit card for ordinary purchase. This is very common with the United Kingdom and United States, the economy melt down in these countries is evidence of that.
4. Use debt to pay debt. Rob Paul to pay Peter in that way poverty will invite you and you will be running from one debt to another. You will start seeing yourself as an expert in debt and debt will not leave you.
5. Mix your need with your want. If you can’t differentiate your need from your want then you are leading the way to financial carelessness.
6. Lack of control of impulsive buying. If you cannot restrict yourself from impulsive buying then you are calling on everlasting debt.
7. Buy things to show off or impress. This is very common with men, once they meet a new woman they will want to impress them, and this don’t usually last because when you start lingering in poverty she will say (he’s not rich anyway) and that will be the end. So stop spending to impress except if you want to roast in poverty.
8. Obeying Parkson law, this states that expenses rise with income. If your expenses rise with your income, then prepare a place for debt and heartache to rest.
9. Not making enough findings about cheap and better goods and services. When you don’t make enough findings on what you buy you will end up buying worthless things for huge amount of money.
10. Allow people compel you to spend money you don’t have. If you allow people make you spend money you don’t have by either using credit card or loaning then debt might soon be knocking on your door.
11. Be dishonest with your financial affairs. If you lie to yourself about your financial affairs who will you tell the truth. If you are dishonest with it, your financial affairs will also be dishonest with you.
12. Live without a financial budget. If you don’t budget everything you spend or intend to spend then sorry ooooooooo.
13. Lack of financial goal. lack of financial goal leads to financial downfall
14. Lack of financial intelligent. If you don’t have any idea about your finance or you are not financially intelligent it can lead you to debt
15. develop poor saving habit
16. decrease your ability to save
17. Expect luck to bring huge amount of money your way. A lot of people have been fooling around with themselves. Some believe that they have huge luck, and because of this they refused to work. Well if you are one of them welcome to the world of debt
18. Cultivate a poor man mindset. My families depend totally on me and I have to spend all of my money on feeding alone because it is too small.
19. Refuse to invest.
20. Move with people of shallow mind. Move with people who believe that there is no crime in being in debt then you will begin to think like them.
21. don’t prepare for your retirement
22. Believe that everyone is a debtor. And because you think so you give yourself license to also become a debtor
23. Go into debt because people owe you. No excuse is tenable for debt so take control of your life today.