Why do people go into debt?

(NewsNation) — There are many ways consumers can accrue debt, from expensive purchases like a house or a car to getting a divorce or a lack of money management skills.One person's average debt equals more than half of the median American household income.Total credit card debt rose to a record $1.17 trillion in the third quarter, according to the New York Federal Reserve. That’s up $24 billion from the previous quarter and more than 8% higher than a year ago.People living i