We would all love to be millionaires. But let’s face it, most people never make it that far. Most of us stall somewhere around the middle class. And that’s not too bad, considering the fact that half of the world’s population lives in poverty. Our culture values money and possessions — almost to the extreme. This fosters a ‘keeping up with the Joneses’ (or Kardashians) kind of mentality. People want to be rich — or at least look like they are rich. Because of this, many people make irresponsible choices when it comes to their finances, and many of them make excuses for it. Here are seven of them:

Irresponsible Financial Choices

1. I always scream, “YOLO!” (You Only Live Once.)

I’m not sure if most adults have heard this ‘Yolo’ term, but it’s one that kids tend to be using these days: “You only live once!” And that is true (unless you believe in reincarnation). But while that term implies living life to the fullest and embracing the moment, that way of thinking can get you into trouble if you don’t think about the consequences of your actions. If you rack up a pile of debt so big that you will have to spend the next ten lifetimes paying it back, well, maybe you shouldn’t ‘live in the moment’ quite so much.