Is basic survival the most common reason people enter into debts?

[Trush Jodie]

So many people are in different magnitude of debts. And it is always disheartening to see well meaning people wallow in debts? Is basic survival like food and shelter the most common reason people are in debts? Or there are other things?

 

[Augusta]

Survival can he for different reasons not only about debt. but debt is a huge part of it

 

[Kross]

Most people can't really plan their finances to meet their basic needs and always end up taking up multiple debts to compensate.

 

[Springtime]

Not necessarily though if you cannot afford to pay your bills and buy daily necessities, you have to borrow money. But some people also borrow money for other reasons such as for investment or home repair. I know some even borrow for having deluxe wedding.

 

[Min George]

I know that most people are owing their street grocery shops which is definitely basic survival needs.

 

[Augusta]

People get themselves in debt because they want things, and they aren't patient enough to wait until they can afford them

 

[King Belieal]

People get themselves in debt because they want things, and they aren't patient enough to wait until they can afford them

This is true. Most people are always in a hurry to get things they desire. They would rather borrow to get those things.

 

[Augusta]

That's right. impatient have been killing a lot of people and putting them in debt. Sometimes it is good to let go.

 

[eLdavis]

While this is usually the common reasons, most times it is often due to poor management on their part.

 

[riberet19]

I believe that more than survival, it is the desire to live beyond your means that causes most people to become indebted, although a large portion of people also do it for survival.

 

[Augusta]

To a large extent sometimes yes. You can borrow so that you get by daily especially if you don't have food at home

 

[Fidelia]

One of the things that I tried to settle early in my life was basic survival needs. I don't fall into debts because of basic survival.

 

[Kera]

I feel it is only people that don't plan their lives that enter debts to survive. Why then would it be necessary to survive on debts?

 

[freelancermaria]

There are many reasons why some people need to take out loans and accumulate debt, not just for food and shelter, but also for health-related expenses.