10 Ways to Slip into the Debt Trap

by Frank Kerkau on September 6, 2009

  • Buy on credit as much as you can.
  • Pull out all the stops for liquidity improvement (e.g. overdraft, credit card, trade credit).
  • Spread your debts.
  • Calculate without buffers.
  • Protect your investments by borrowing.
  • Trust your employer.
  • Believe in your health.
  • Don’t consider fluctuations of interest rates.
  • Believe in increasing markets.
  • Ignore any outstanding accounts.
  • Important: Don’t talk about your money problems with creditors!

You should combine several points with each other for better impact.

Photo: © Rike / PIXELIO

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