Buying something which you cannot aford.

[CVT]

I lived in the US for 3 years. Halos lahat ng pinoy na na-meet ko ang unang advice sa akin nung bago pa ako dun e "establish ka ng credit history kasi dito wala ka kung wala kang credit". Kahit daw utangin ko yung sinusweldo ko (credit card linked to bank account, so kahit may cash ka utangin mo para may history ng credit). Kaya lahat sila pag dating ng sweldo ubos din agad kasi pambayad lang ng mortgage, car loan saka credit card. Di pa nila kinikita na-gastos na.

Worse, such becomes a vicious cycle that they can't get out from.

A few people who I know borrow money to pay for their debt from another person.. Some people are bound to be left unpaid or partially paid.....