Managing or preventing your debt
Debt arises because of sudden requirement for cash and you need to borrow money to get that thing covered. The sudden need for cash can arise because of medical reasons or accidents and so on. Situations like those can get difficult later on because the debt keeps piling up if it is not taken care of on time. On the other hand, there are people who simply borrow money out of greed. For example, you need to buy a car and you get paid on Friday. The logical way would be to wait until Friday to buy the car. If your greed gets out of control, you may simply borrow some money and buy the new car today itself. As a result, you end up paying more.