Why Do We Borrow? Reasons for Indebtedness Keeping up with the Joneses The use of money to punish. Need for instant gratification. The expectation of instant comfort among young couples who overuse the installment plan.
Why Do We Borrow? Reasons for Indebtedness Lack of communication among family members. The amount of finance charges is too high. We are mentally trained to spend. Overindulgence of children.