1) Good Debt Exists
Despite what some people will have you believe, some debt is actually good.
Borrowing money to purchase a home, or to complete your education, is generally considered “good” debt; the asset you’re gaining – and education is an asset – continues to appreciate in value as the principal balance of your loan decreases. Add into that a generally lower interest rate and a tax deduction on your interest payments, and it’s win-win.
2) And Of Course, So Does Bad Debt
3) Controlling Your Spending Is the First Step to Controlling Debt
4) Pay the Debts With The Highest Interest Rate First
5) Plan for Emergencies, But Not At the Expense of Reducing Your Debt
6) Don’t Pay that Mortgage Off Yet!
7) Never, Ever Pay the Minimum!
8) If You Need Help, Get It