There are many reasons why people go into debt. Sometimes, it is due to circumstances beyond their control. Other times, it stems from poor financial habits. Whatever the reason, we need to recognize the root of the problem and actively work to resolve it. Otherwise, it is very easy to get stuck in the vicious cycle of debt.
Some of the top causes of debt include reduced income, little savings, medical expenses, divorce, and poor money management.
Take our poll today: What caused you to go into debt?