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Three Reasons Why You’re in Debt

Being buried in debt can be extremely discouraging, but there’s hope. I am listing three reasons why many people can’t get out of debt and some simple ways to turn things around.

You Don’t Know How Much You Owe

I’ve met many people struggling with their finances only to find that they have no idea how much debt they are in. Because of this, they have no idea how long it will take to pay it off. They don’t realize how their debt is thwarting them from reaching their financial goals. Simply take the time to figure out how much you owe, then make a plan to attack your debt.

Start by making a list of your debts and then choose one debt to pay off first—preferably in order form the lowest amount to highest.  Another option is start with the one with the highest interest rate.  Find areas in your budget to increase your monthly payments toward debt by eliminating non-essential expenses.

You Constantly Move Money Between Credit Cards

Moving a credit card balance with a high APR (Annual Percentage Rate) to a credit card with a 0% fixed APR is very helpful when paying off debt. But if you constantly move you credit card debt around or keep purchasing things you cannot afford without making much progress paying it down, this is a good sign that you’re not committed to the repayment process.

This is a behavioral problem that will keep you in the debt cycle. Do your future self a favor and stop it! Don’t fall into the trap of putting more purchases on credit cards, especially after moving the balance to a new card while convincing yourself you’ll be able to pay off what you owe later by repeatedly transferring balances.

You Have a Character Flaw

You may be in debt and stay in debt because you are simply too lazy, weak or self-indulgent. This one hurts. I know because I have been here.

We like to think our debt is solely the result of outside forces — the economy, the housing market, the hospital stay, or the stock market. However, regardless of these events, we need to take responsibility for our own actions.

If you want to be free of the debt , you must change your behavior and stop going deeper into debt.


It’s easy to continue living in debt if you never face the reality of your situation. It’s also easy to get sick of living paycheck to paycheck. No matter what type of debt you’re in, it’s important to know there is a way out. It may not happen overnight, but the quicker you become debt-free, the faster you can start living the life you truly want.

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About Touya Kelley

Touya Kelley has spent the last 5 years of her life offering financial solutions to people. On her personal finance blog Break Free And Win, her goal is to help and encourage others to manage God's money well.

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