1. Getting a credit card or two, or more. It is so easy to get a credit card—and more these days. Card companies will entice you into getting one by offering low interest rates and other perks such as air miles and reward points. However, this also makes spending using your card easier for you, but harder on your finances.
2. Not saving money. Obviously, without savings, you will need to get a loan in case you need to spend on an emergency, such as when you or someone in your family gets sick and hospitalized. You may also fall into the temptation of using credit when you want to buy something quite expensive.
3. Not setting a budget—and sticking to it. When you don’t set a budget, you may end up spending more than your monthly income, leading to further debt.