Debt! It’s stressful. It’s frustrating. It’s something we all want to get away from, and as soon as possible! Do you feel like you do well for a while, then slip, and find yourself tumbling backward again? Don’t feel bad if the answer is yes. A recent article by U.S. News and World Report gives a little insight regarding the issue.
“In theory, staying out of debt seems like a straightforward process: By not spending more than you can afford, you’ll be debt-free. However, as millions of Americans with debt can attest, it can be more complicated than that. Common attitudes toward money-management and spending can make it easy to slide into debt.”
The article addresses 10 unexpected debt traps. Topping the U.S. News and World Reports list is ‘using your savings to pay off debt.’ Are you guilty of this? You are far from alone.
In the article, U.S. News and World Report gives a few tips for combatting each of the unexpected debt traps.
Visit the U.S. News and World Report site here to read the full article, and get helpful tips on avoiding debt.