Debt

Debt is a huge and easy problem to get into when you begin making money, while getting out of debt is an even bigger problem to deal with. The following quote by Dave Ramsey describes how to get out of debt in a simple way:

"We do not break the bad habit of debt through earning more money, but rather we break any habit by replacing it with a better one."

Debt is created through habits of poor money management. The best habit to replace spending more money than is needed is to create a budget. A budget is a strict guide on what a person's income should be used on, whether its on groceries, on gas, on an emergency fund, or on savings. A budget is only an effective way for getting out of debt if a person follows their budget as close as possible.
I worry about getting into debt when I get older. I have seen family members go through bankruptcy and it is something I want nothing to do with. Because of that, money will be important factor when I determine my life's path. Teacher do not make much money, but they make enough to survive and enjoy life. Although I would want to make enough money in my future career to live comfortably and luxuriously, I would rather live off of minimum wage and wake up every morning to a job that I love to do.