Controlling Debt – The Best Way To Improve Your Finances
Debt management is not just a term that financial advisors use when their clients are in trouble. Controlling debt is the best way to stay away from costly mistakes spending and borrowing money without keeping in mind factors such as, buying with cash or credit, loan terms, interest rates, refinancing and so on.
On the other hand, there is good debt and bad debt. Borrowing money to pay for a college education, or buying a home, is considered good debt because you are investing in personal assets that over time are worth the extra expenses and can have life long benefits. However, bad debt comes mostly from indiscriminate credit card usage, particularly among teenagers, but nobody is exempt here.
It is never is too late to learn how to budget, save and avoid costly financial mistakes. I realize that most everyone hates the word, Budget, however, it really is what brings financial success. It is a compass, a guiding light, a path towards where you need to go to achieve what you want in life. If you were going on a trip by car to somewhere you had never been before, would you bring a map ? Of...
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