10 dumb reasons to take out a loan

Going to a bank for a personal loan for plastic surgery, overextending a credit card to buy Christmas gifts, and borrowing from a 401k retirement plan are some of the dumb ways people borrow money. There's also using a home equity loan to pay for a vacation, but that stupidity has been covered so often during the recession that it's old news.

The Credit CARD Act that was enacted last month makes having a credit card a more transparent transaction that's supposed to protect consumers from the credit card companies -- despite the increased fees -- but it won't protect consumers from themselves and dumb spending habits.