Excessive debt comes from wanting, and getting, everything NOW . Debt obligates your future income.
Debt can be expensive .
Interest payments on debt work against you. There appears to be a relationship between personal finance literacy among high school seniors and the number of bankruptcy filings in that state. Develop a financial plan, or budget, to balance spending with income. Protect your access to future credit by maintaining a good credit history. Learn to use financial tools such as bank accounts, ATM cards, and debit cards to manage your money effectively.