The Americans are in debt because of the expenses like the new house , utilities , and the first kid and raising children up . Americans are in debt because of the bad way of using the credit cards . They spend much money on foolish things like , sport equipment , gold , flat screen television beer and other stupid things . Using credit cards will put Americans in a critical condition for the several reasons .
First of all , people carry balances on their cards that they do not pay off each month , so this cause poor budgeting skills . America is full of finger - waggers . A survey that asked card holders about credit card usage found that most individuals think that others do not know how to use credit cards wisely . Young people use their credit cards in car repair which do not have the money in the credit .
Second , some young people spend money on college and they live away from their families . Also , they get married and spend money on weddings . Many young adults get into debt from charging up the requisite goods that come with leaving the nest . They also spend money on buying beds , towels , sheets , and wardrobe .
Finally , Young people should not rely on using credit cards all the time . They should use it when it is important . In this way people will get the balance of their credit in a good shape not over limit . Also , young people should pay the credit companies monthly so , they can keep their credit and life stable .
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