DEALING WITH DEBT - 3 (REASONS WHY PEOPLE GET INTO DEBT).

Many people think that once you are in debt, you are a bad manager of financial resources, but I beg to differ, because that is not true and will never be true. We need to understand this fact when dealing with debt as an issue. Research has shown that there are reasons why people find themselves in debt for no fault of theirs, and I will be dealing with one of them, which will be my second category of the reasons why people get into debt(you can get the previous 'dealing with debt' articles here). So here it is: 
2.) NATURAL REASONS:
They can also be termed to be legitimate reasons. In life, there are situations everyone prays never to encounter, they come like tsunamis or earthquakes and ruthlessly deal with us and our finances without looking back. Take for example;
a.) Health challenges: By this, I do not mean slight headaches, stomach upsets, malaria and typhoid fever that everyone in my country knows how to treat without even visiting a specialist (which is wrong anyway). Here I am talking about serious health issues like cancer, kidney problems, injuries resulting from ghastly accidents and so many other health issues that we even shudder at their mention. These health challenges do not have the slightest regard for your finances, they literally guzzle your finances and still demand for more, making you go out to look for financial help and automatically get into debts.
b.) Accidents: Unforeseen breakdowns. I mentioned one type of it in the paragraph above, but that’s not all. There are different types, house fires, building collapses, car crash etc. Nobody prays to be involved in such issues. They never leave you in a good shape financially.
c.) Divorce: While this might not be ‘too popular’ in my country (I stand to be corrected), many people get stuck in debt while trying to deal with the consequences. Women mostly find themselves with nowhere to go, children to feed and no help from anywhere. Permit me to add this, just like my father, “I HATE DIVORCE.”
d.) Job loss: May this not be your portion, even when you have a solid emergency fund, it’s better to willfully resign your job for better positions or pursuits in life than to be relieved of your job when you are not financially ready and have loads of financial responsibilities to deal with.
e.) Expanding Families: You were doing well with your income as a single, and you dared to get married without any plan as to how to increase your capacity to make more money, and jokingly made the 'mistake' of getting your wife pregnant without any good financial plan, here comes your twins. What was supposed to be a blessing from God and an elevation, automatically turns your life around by 360 degrees. Many have started their journeys into the world of debt from this stage and this I believe is a contributory fact to why many young and eligible men are scared of getting married. Either way, there certainly is a way out.
All in all, life happens to us sometimes, we do not ask for them and do not even wish for them for our ‘enemies’, but just as we have come to see life, it just happens.
To be continued…

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