My friend sent me this article from asiaone, 35 and flat broke, and we had this conversation over lunch today. He was shocked that couple earning $17,000 a month, can be highly in debt and eventually broke. Someone once said, it is not how much you make that matters, it is how much more you can save that is important. As we are going to have a new batch of graduates joining the workforce in a few months time, I thought I will share my 2 cents on this. One's financial journey starts the moment you join the workforce and if you don't make silly financial mistake along the way, you will be much better off than those characters mentioned in the article.
With the social media and internet, there are too many temptations trying to make you spent your dollar. Whenever there is an urge to buy something, have a cooling period, delay the purchase for 2 weeks and you might realized that you don't really need it after all.
Credit card is another culprit, as most of them who is in debt actually lose control over the use of credit card. It is the convenience and without realizing it, the limit has been blown. One of my colleague only has 1 credit card, and that is probably a good way to curb the urge of over spending.
If you are really in debt, you have to recognize that you have this problem and try and get back your financial to a healthy state again. Unfortunately, there is no easy way to this, and importantly to live below your means. Go read 'the millionaire next door', and you will know what I mean.