Ten reasons to stay debt free Ten reasons to stay debt free We are the working class. We are the people who work paycheck to paycheck, just to get by. And, because we work hard, we feel we deserve to have nice things, when we want them. However, this type of thinking is what causes us to incur debt.
Debt is the inability to pay our bills, in full, at the end of each month.
In time, those monthly payments require all of our paycheck. So we work overtime to have some extra spending money, and pay a little extra on a bill or two. But every time we think we are going to be able to get ahead, we are hit with some other unexpected expense, but this time, our credit cards are maxed out. But we have to take care of this unexpected expense, so we go out and open up another credit card. And the vicious cycle continues.