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Tina Hay, CEO of Napkin Finance discusses 5 Things You Never Thought Could Put You in Debt

1. Weddings

Sure, planning and hosting a wedding can be a money pit. But it’s not uncommon for people to dip into debt just from attending a wedding.

2. Divorce

More than half of us do it. If you’re Elizabeth Taylor, you do it multiple times. Here’s kind of what it’s like:

You sell all your assets, and get the money in $50 bills. Then, you go to a hotel on a busy street, and you and your spouse open two windows and see who can throw the most money out the fastest.

3. Medical Bills

When you get sick, you usually don’t think about the cost right away. You focus on getting treated, and pray our scary WebMD diagnosis is totally wrong.

4. Funerals

If you thought the cost of living is high, try dying (actually don’t, please). The cost of funerals is also high. In fact, the average cost of a traditional funeral in North America is between $7,000 and $10,000, according to Parting.com.

4. Hobbies

Say you want to take up scuba diving. Sounds fun, right? But first, you need to buy your gear, sign up for lessons, get yourself to a body of water and before you know it, you’ve spent a couple thousand dollars. read more