Over the years, I’ve found that people end up in financial trouble not just because they don’t have enough money. It’s because of poor decision-making.

Following is a transcript of questions submitted during an online chat by people who needed to be pointed in the right financial direction.

Q: I am separated, with two young sons, and my husband lost his job about five months ago. I am solely supporting myself and my children and finding it difficult to cover all of our expenses. I have stopped dining out, bring my lunch, don’t have cable, etc., but my income just doesn’t cover the monthly bills. I think I have to cut back my Thrift Savings Plan contribution to 5 percent or possibly less. I currently contribute 10 percent. Because there really isn’t any other thing I can do to cut expenses, do you agree about reducing my retirement contribution?

A:I do agree. I would cut out your contributions completely for now.

Although I’m a huge advocate for saving for retirement, you need the money right now so that you don’t go down financially. Even when there is a match, I would say to cut back on investing for retirement until you can figure out how to make your income match your expenses.

For example, can you move to cut housing costs? Can you get a roommate? I know people don’t like to do that with kids, but at least explore the option, perhaps with a close friend or relative.

Also have you really explored everything to keep your marriage together? Even without a job, having your husband help at this point could allow one or both of you to get a part-time job. And he wouldn’t be paying for the cost of his separate living expenses. Just asking.

Q: We’re in a position to refinance at a lower interest rate, and we need a new roof. You usually advise against treating your equity like an ATM, but what about needed repairs? It’s very unlikely we can set aside $7,000 to $10,000 in cash without wiping out our emergency funds. My husband and I are journalists, so our jobs are on the line these days with the awful economy. Any suggestions?

A:Here’s how I would approach this decision. Find out how much it costs to really fix the roof and whether not fixing it will create major damage. In other words, is this something that can wait or get a cheaper fix for now? If you are unsure about your job situation, I agree I wouldn’t deplete the savings. So in this case, if you absolutely “need” the roof done, pulling that money — and that money alone — out of the house equity during the refinance is acceptable. Although try your best to find another way to pay cash to fix the roof.

Q: I have a friend who lives in the District of Columbia who really wants to buy a house in Maryland to move her children to a better school district. She has a good job making decent money, at least $45,000 to $50,000 a year. She has credit scores between 500 and 700. She does not have money for a down payment. She has some credit card and student loan debt. I have suggested that my friend rent in Maryland until she is ready to buy. What advice would you give her?

A:You are a good, good friend, giving great advice. Your friend is not ready to buy a home and would probably have trouble doing so anyway with the tougher lending standards. At any rate, let’s look at her financial profile:

• She has credit scores in the 500 to 700 range. That’s a huge range. In the case of a mortgage, the lender will take your middle credit score. Still, having a score in the 500 range is not good.

• She has credit card debt. Not good.

• She has student loan debt. Not good.

• Her income is decent, but it will be hard finding a home in Maryland in a decent neighborhood with that income.

So you are right. She should rent and build up her emergency savings, pay off the credit card and student loan debt and get her low credit scores up.

Q:Why did you say student loans are not good? As long as you’re paying them back, what’s the deal?

A:The deal is, it is debt. Debt = bondage.

I added that last question from the chat to illustrate one of the reasons people make bad decisions. Too many people blindly follow conventional wisdom — a student loan is good debt — when that wisdom is and has always been wrong.

As I pointed out in the chat, lose a job, get sick, etc., and no loan looks good at that point.