Making a living for yourself can be very difficult. The modern job market is very competitive and automation may even threaten the job market even more. As people lose jobs or struggle through their lives, debt sometimes becomes inevitable.
Bad Debt
One of the major problems I have encountered with banks is that each bank thinks it is a business. The problem is, banks are businesses! What this means is that banks are very eager to 'sell' their product. Every time you open a credit card account, the bank ties another rope to you. The more debt you have the more you become tied to the bank...
Live without debt where you can! This is easier said than done because of the system created. To make a loan, people generally need a credit history. This means personal debt. The best way to build a credit history is to start with a phone contract. Avoid clothing accounts or other credit.
When life happens...
Part of living your life means that there will be times that you require money. Buying a house or putting yourself or kids through college may be opportunities where debt can be beneficial.
Sometimes people need to make some debt after losing a job. In these cases, try to use your debt or loan to make an income!