It is certainly not difficult to get into debt today. Companies create enticing ads that entice him to buy things he doesn’t really need. Paying in cash is a thing of the past. Items can be easily purchased with credit or debit cards, either in person or online. This results in careless spending and improper financial planning that can quickly throw you into a debt trap. Then once you get caught, it’s very hard to get back to normal.

Why do so many people get caught in the debt trap? This is mainly because we have developed an entitlement mentality and believe that we deserve to have everything we want. We don’t even need the cash to cover our purchases, all we have to do is put it on our credit cards and pay for it later. Sometimes we even ignore the needs of our families and waste money on things we don’t need instead of paying for important things like bills and groceries.

We continually hear these statements: you deserve the best, shop till you drop, just load it up, treat yourself, pay later. What seems like a good idea turns into a drag when the credit card statements arrive and there is not enough in our bank account to cover the minimum amount.

Have you ever considered how much money you spend on things you don’t really need? There is a big difference between needs and wants. We can really believe that we need something when, in fact, we really don’t need it, we just want it. Here’s a quick list of some expensive wishes:

• COFFEE – If you buy 2 coffees a day that cost $1.60 – in a year you will spend $1,168.00.
• EATING OUT – If you eat at a restaurant once a week and spend $80.00 – in one year you will spend $4,160.
• TO GO: If you take home food once a week and spend $40, in a year you will spend $2,080.
• CLOTHES: If you buy 1 new item of clothing every week and spend $50, in one year you will spend $2,600.
• GROCERY: If you buy extra snacks, candy, and treats each week when you shop for groceries and spend $40, in one year you will spend $2,080.

If you add all of these things up, they come to over $12,000! Oh! This could buy a car, a down payment on a house, or even save for the future.

Think about the things you buy that are totally unnecessary. It may seem like you’re not spending a lot of money at the time, but it really adds up. Don’t get in debt for unimportant things. Getting into debt is not fun and it takes a long time to recover. Make sure you spend your money wisely. Don’t get into a debt trap.