John J. Bowman, Jr., a Pittsburgh-based accountant, lists four reasons people accumulate debt. For more on personal finance, visit https://jbowmanaccountant.info/

1. 4 REASONS PEOPLE
ACCUMULATE DEBT
JOHN J. BOWMAN JR. ACCOUNTANT

2. CREDIT
CARDS
Credit cards make it easier for
consumers to purchase items, sans
the lighter wallet. Credit card debt
has steadily risen over the past five
years, and it can be easy to fall
down a rabbit hole of debt if
paying by card is your preferred
method of shopping.

3. Taking time to learn how to manage
money is vital for anyone who wants to
avoid falling into debt. In fact, creating a
personal spending rulebook can help you
and your household members understand
the impulses behind your spending and
ways to avoid personal debt.
POOR SPENDING
HABITS

4. From the absence of windows and
clocks to lengthy slot machine algorithms,
casinos are practically vacuums for your
wallet. Avoiding the casino is a sure-fire way
to not waste your money, and there are plenty
of free ways to have fun.
GAMBLING

5. LOANS
From student loans to
mortgages, this type of debt is
often the least controllable.
While one can practice
appropriate spending and
avoid gambling or credit card
usage, loans are often
necessary to move forward in
life. In this case, the best
strategy is to stay on top of the
debt and follow a strict regime
for saving up to pay them off.

6. JBowmanAccountant.info
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