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7 deadly sins that lead to debt

Financial sinners won't have to wait for the afterlife to be punished for their various misdeeds. Plenty of consequences await in the here and now.

Presented with choices daily, human beings can lead chaste and charitable fiscal lives. Or they can succumb to fleeting temptations and fatal traps.

So choose to commit these deadly sins -- or work to bring a little temperance into your spending.

7 deadly debt sins:
6Be gluttonous
You deserve that cookie, so go ahead and eat it and maybe a couple more for good measure. While you're at it, buy the bedroom set you can't afford but deeply desire.
As a nation, the United States is both plainly fat from eating too much and overstuffed in the materialistic sense. The message from society in general can sometimes be: You work hard, so splurge.
It's very possible to have a house full of stuff and no money. It's also possible to be extremely overweight and ingest no healthful nutrients.
Just like eating food for no good reason other than the fact that it is set in front of you, people buy stuff just to buy it.
"It's so easy when you're in a mall to start buying things on impulse. They're very attractive and all shiny and new -- especially when they're on sale," says Dave Jones, president of the Association of Independent Consumer Credit Counseling Agencies.
"People will react to a sale item -- 60 percent off -- and buy it when they don't need it or want it."
Big-box stores are vast dens of temptation, offering lots of everything at sale prices.
"People buy huge amounts of stuff and think they're saving money. But what happens is that it just takes up space, takes years to use up or it just spoils," Jones says.

 

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