Debt Management

Ahhhh the most dreaded financial word, DEBT! While debt is made out to be the enemy of wealth building, it will most likely play a key role in your financial success. To make sure you remain financially healthy, it is important to understand how much debt you have, and how long it will take you to pay it off. These posts will help you understand how debt works, how much debt is too much debt, and how to set up a plan to pay it off.


Are You Afraid You’ll Be in Debt Forever?!

Chances are, you’re in debt. And you aren’t alone. 80% of Americans have debt and are in the same boat as you. Many of these people also fear that they will be in debt for the rest of their lives. But I’m going to let you in on a secret about debt.

How to Use Debt the Right Way

There are many different forms of debt, and it seems like millennials have made it their mission to practice using each type. Some debt is great and can help you build wealth. Other debt just ends up costing you more than you should have paid. Below, we break down the different types of debt, and how to use them to make money and avoid losing it.

Do You Have Too Much Debt?

Millennials love debt. We have a lot of it, and we can’t stop acquiring more. Our largest source of debt as a generation is credit card debt, which few people realize. On average, each of us has $33k in student loan debt. We may have an auto loan, and we’ve probably just purchased or are considering purchasing our first home and taking on a mortgage. Even though we turn to debt to reach all of our life goals, few of us actually know how much debt we have, and even fewer of us know how much of our income goes toward paying for our debts. But it’s important to know these things because having too much debt is risky and expensive. If used properly, debt can help you build wealth, but if used improperly it can devastate your finances. So how can you tell if you have too much debt?

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