As I was cruising around the internet looking for ways to help you be frugal and save money, I ran across a list that I had never seen before. It was a Top 10 list for the Causes of Debt. Not only did I see this list once, but it popped up on three different financial sites that I routinely track. Wow! I quickly scanned the list and frowned.
I could agree with some of the points of the list, but overall, I have seen variations in my data that dont support the reasons why my clients are in debt relative to the list created by http://www.marketwatch.com. Before I launch into my rebuttal of this list lets take a look at what Marketwatch came up with.
1-Reduced income/same expenses
2-Divorce
3-Poor money management
4-Underemployment
5-Gambling
6-Medical Expenses
7-Saving too little or not at all
8-No money communication skills
9-Banking on a windfall
10-Financial illiteracy
What I find amazing with this list is that the reason most of my clients have debt is due to one thing and one thing only. They spend more money then they earn. I know this may sound stupidly simplistic, but it is true. I have found in...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
