Let face it we’re only human and as part of being human means we’re imperfect with a number of bad habits; and with all the bad habits we may posses, having a poor money management skills should not be one of the bad habits topping your list.   Take a look at some of the most common financial faults many people have and see if you recognize any of your bad habits.  If you find a few do what you should to fix the problem and rid yourself of these debt disasters.

• Living beyond financial means -Everyone what’s to have the finer things in life, but if your salary isn’t enough to support these nice things and you have to borrow money from family and friends just to keep your lights on or food on the table then you’re living well beyond your means.  While you may have a sufficient income the best thing to do is map out your finances and set a budget.  Rid your monthly expenditures that you’re not a necessity and get a clear picture of your current financial state.  You may find that you’re mismanaging your money or you’re simply trying to keep up with a lifestyle that is out of your financial reach.
• The love of Credit Cards -If you’re like countless other people who pride themselves on a collection of credit cards then you’re headed for a rude awaking.   Credit cards are not a collector items and should not be accumulated without regard for the consequences. Practice turning down credit card approvals and try paying off the ones you have to avoid astronomical interest rates.   
• Spending without forethought or Living for today - It is common for people to spend their money on a moments notice and without regard of saving for future events.   You should know that spending without forethought and putting a little away, destines you for financial disaster.  You don’t have to put way half you’re earning to see an improvement simply devote a small percentage to a saving account.  Believe me it will come in handy when you really need it, especially if you lose your job.
• Financial Ignorance - Who ever said ignorance is bliss wasn’t referring to the financial ignorance that for sure.  Everyone keeps tabs on how much money they have available in their bank accounts, but how many people really calculates how much debt they’ve accumulated.  A very small percentage.  Taking the time out to review you credit report periodically will make you aware of your entire financial situation.  See what your creditors have to say about you, which will help you in the long run financially. 
• Debt Denial - How many people think that one day all there financial troubles will simply work out by themselves.  More than you may imagine.  The truth is the only way they’re going to work out is if you put effort to contact your creditors and work out payment plans. Don’t be afraid to let your lenders know your having trouble, they may have a solutions for you.
• Missed Monthly payments - We have all missed a payment here an there.  Sometimes we get caught up in managing a lot of monthly payments and one little emergency like unexpected car repairs leaves of short on a bill.  We see the most we have to contend with is making a larger payment next month to include late fees.  Right!  Wrong you could damage your chances of getting your payments under control at this point since creditors have a harder time working out easy payment plans if your payment history is iffy.  Not to mention your interest rates will go up if your over 30 days late on a payment.
• No course of action for retirement - Even if you just got into the workforces 30 – 40 years down the line may seem like a long way away.  Most people don’t consider their finances until it retirement is near, for this reason you should start planning for your future have retirement.  Pension plans, stock options ISA and other future savings plans is worth considering as soon as possible.  Talk to a financial advisor and see what your options are. 
• Unwise credit card thinking - While you may feel you found the answer to interest rates increases by transferring credit card balances to low or 0% interest rate transfers, but the truth is you only get a great deal if your able to pay off your balance before the introductory rate of your transfer deal expires.  Seek out other ways of gain extra income to pay off debts, try cutting back on extra spending and even consider getting a low interest rate loan to consolidate your payments.
• High risk of Identity theft - How secure is your identity?  When you toss your bank statement in the trash do you take the proper measure to ensure no one can steal your identity?  Even giving out personal information over the phone or internet puts you at great risk.  Make sure your very cautions with personal information and avoid identity thieves from damaging your credit report.  Always thoroughly destroy information that could be used fraudulently and regularly check your credit report.
•  Failing to reward yourself - making the necessary adjustments by cutting out your luxury items for your budget can sometimes lead to failure when you’re trying to rid yourself of bad habits.  For this reason you want to avoid from being extremely hard on yourself and give yourself small financial treats here and there.   By doing this you reduce the chance of going on a spending spree and destroying what you’ve worked so hard to maintain.