How come some people have massive debt?

[Anonymous]

Dont they know how to budget?

[Astarlessnightsky]

Depends on the cause of the debt.

Some people really just buy stuff they can't afford and keep buying more and more.

Others have serious addictions, like gambling or drugs, they can't escape or couldn't escape and are now dealing with the consequences.

Some just bought a house or car or some other expensive stuff by borrowing money from the bank.

And in the US some people just wanted a college eduction or became sick.

[Guy13]

Credit, especially credit cards, is why people have massive debt. The USA as a Nation is 10 Trillion in Debt. We are in a get it easy and have it all the time Society. Most of the world is not this way, however, the debt patterns are constant globally.

We lust Money as it represents Power, Luxury, Prestige, and is perceived at the underpinning to Happiness by the inexperienced.

[Anonymous]

Situations are different for everyone. Sure, some people are bad with money, but not everyone was fortunate enough to learn how to budget growing up. Other times, people may fall into bad situations where they have no choice but to take out loans or inherit debt. You shouldn’t judge until you know the circumstances of someone’s life.

[TheVigilantFox]

With prices going through the roof due to the cost of lockdown crisis people can’t help but get in debt, and how can you budget if you’ve hardly got enough money to survive.

[boggboss]

Depends on the situation

[artsy_dragon]

Depends tbh