Top 5 Reasons People Go Broke.

One of the saddest things you can witness in life is seeing people who had everything losing it all.  Here are 5 reasons why, and I was surprised by the first one on the list.

1.Medical Expenses - It is interesting that a Harvard study shows that 62 % of all bankruptcies is this - even if 78% of filers had some kind of medical insurance.

2. Credit Card - Is anyone surprised? 

3. Job Loss - In itself this is does not cause problems. What get most people is that they are usually not prepared for it. 

4. Overspending. 

5. Unexpected Expenses.