Bad debts to me are debts incurred to buy into depreciating assets. For example, consumables, car, clothes etc. These are the kinds of debt we have to avoid. There are three habits that attracts bad debt. We should take note of them so that we can break them.
1) Spending without forethought(aka impulsive spending). The ease of cashless transactions, like pay wave now have contributed to this habit. A person who buys because of emotional reasons(hype etc) without thinking pragmatically is prone to have bad debts
2) ...
...
