Being in debt and getting out of it
Being a single parent is not an easy task. One needs to find ways and means not only to be able to make both ends meet but also to scrape out of debt incurred from a previous relationship. Once you spend more than what you have, especially at times when you are faced with a situation that brings an urgent need, you cannot help but end up borrowing money if you do not have a lot saved for those rainy days. There’s also the matter of mismanaging our finances causing us to spend more. Why do people really go into debt? Here are 3 reasons that got me (or maybe even you) into debt: 1. Life necessities A roof over our head and education to get ahead of life are some of life’s necessities. We look for ways to finance our house and our study. Mortgage and Student Loans help us get the money we need upfront as we make our payment over time until we get to pay it back (and its interest) in full 2. Life circumstances. Urgent emergency situations like hospitalization, divorce, or une