A financial trap refers to a situation where an individual or organization becomes stuck in a cycle of debt, unable to escape due to high interest rates, fees, and other financial obligations. This can lead to a downward spiral of increasing debt, reduced credit scores, and limited financial options.

Common examples of financial traps include:

- High-interest loans or credit cards
- Payday lending
- Debt consolidation schemes
- Get-rich-quick schemes

To avoid falling into a financial trap, it's essential to:

- Live within your means
- Create a budget and stick to it
- Build an emergency fund
- Make smart investment decisions
- Seek financial advice from reputable sources

Remember, financial freedom requires discipline, patience, and knowledge. Don't get caught in the $TRAP !