There are many causes for your debts and most of them come from your own decisions. However, there are subtle hints that are coming from your own circle and society in general that contribute to the wrong decisions that you make in your life.
Consumerism is rooted deep into our system that you need to be very careful about the suggestions that you receive from your environment. Though most of them mean well, they can actually be considered as debt traps that can give you quite a problem in the future.
One of the obvious debt traps that you should be wary of are advertisements. Remember that corporations spend millions on their marketing campaigns. They design every detail to encourage you to spend your money on them. Be very careful when you get the urge to buy something after seeing an advertisement dedicated to it.
Sale events and product promotions are also something that you have to filter when you are deciding to buy something. If you do not need it, no discount can be considered as savings. Despite the smaller expense, it will still be a waste of your money simply because you do not need it. Make that a rule in your spending. If you do not need it and if you cannot afford it, do not buy it. Even if you have the money to spend, just put it in your savings or invest it in something else that will make it grow. That the how you make wise spending choices.
Suggestions from the people close to you can also be considered as debt traps. We all want to give everything to our children but you have to keep your budget in mind. It is better to save for their college fund instead of buying them another high tech car when they have trunk loads at home. It is better to let them wear hand me downs when you know that they will outgrow the clothing in a month or two. It is not really about being frugal. It is knowing where your money is best spent on to benefit your future. You are not really depriving yourself or making yourself go hungry.
It is important for you to understand that making smarter spending choices now will keep you in debt through your savings. Instead of making all those unnecessary purchases, deciding to put them in your savings account will help you finance any emergency need in the future.
Always consider your own personal needs before you decide to purchase something. As mentioned, most of the suggestions may mean well but if you cannot afford it, that can lead to a financial disaster. If you are battling with it, give yourself some time. A need to buy something usually goes away if it is just fueled by hype. But if there is a real need for it, time will not quench the thirst of acquiring it. A couple of days should be enough time for smaller purchases but for expensive ones, give yourself a month to think it over.