We all know at least one person who has squandered his or her money and ended up in dire financial straits, leaving parents, friends, or a spouse with the burden of bailing the individual out. But it doesn't have to be this way! Judging from what people who have ended up as such have told me, I've narrowed down the reasons why people go broke to two primary ones: 1. They want to show off : Some people have a compulsion to have the latest and greatest. Whether it's the newest car or smart phone, they're not satisfied unless their stuff has all the bells and whistles. They wouldn't be caught dead with something that doesn't have the Louis Vuitton, Coach, or Michael Kors logo on it. What these consumers fail to realize that premium brands come with a high price tag. What's more, it's easier to become more oblivious to just how much you're spending when you're using plastic rather than paper. Is it any wonder these people rack up ever-increasin...