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When people decide to borrow money, it is never with the intention of getting into serious debt. But paying back the money that was borrowed doesn’t always work out quite how you might have been expecting it would when opening the line of credit in the first place. Even well intentioned debt management plans aren’t always successful.

The truth is that even some people with great financial management skills wind up having overwhelming amounts of debt. Of course, problems with debt can be blamed on poor planning as well. Debt management is not always successful for the following reasons:

1. People lose their jobs. Job security is not what it once was, and an increasing number of people are becoming victims of downsizing or outsourcing. An unexpected job loss can be a source of financial hardship, making it difficult to pay bills for necessities, and leaving little or nothing to pay debts.

2. Financial problems can be related to health problems. A host of debilitating illnesses can leave their victims without the ability to work, as do many accidents. Because of having medical expenses but not having an income, putting money towards the elimination of debt on a monthly basis becomes very difficult to arrange.

3. Unexpected occurrences bring unexpected expenses. Despite careful budgeting, expenses that were never planned on can arise and leave you incapable of paying for monthly bills. Some common examples of such unexpected expenses are property damage caused by catastrophic weather events, appliances that just stop working, and pricey car repairs. These and other similar things can greatly affect your ability to work at eradicating debt.

4. We don’t keep adequate savings. Many financial problems can be avoided, or at least made less burdensome, if we have some savings to fall back on. This is one area of the budget that many people either don’t think about or do not take seriously. Making room in the budget to put some money into savings each month is an asset to any debt management plan.

Problems that cause initial debt can have a similar effect on individuals that are trying to get out of debt that has already piled up to uncontrollable levels. Debt consolidation can make such precarious situations more manageable. In the end, even consolidation is not always enough, and bankruptcy must be filed for by some.

Stopping debt from getting out of hand is the most effective form of successful debt management. Saving money for expenses that were not expected is certainly beneficial, and a financial reorganization can help if savings alone are not enough. Although regaining control over your financial situation might not be the simplest thing to do, the benefits you get from doing so are well worth the effort.