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. Similar statistics for graduate students were higher.
Solutions 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. Budgeting Budgeting is the key to keeping debt in check. A budget is just a plan of how you will spend your money. After you create a budget, follow your budget as closely as possible.