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.
One of the biggest misconceptions I see around the current views of millennials’ finances is what assets are good to acquire using debt. We are constantly bombarded with the notion that taking out debt to get a college degree will leave us forever paying off our student loans, and therefore we will never be able to get ahead. But no worries, it is totally fine to take out that $25,000 loan to buy that new car you really want. These messages are completely wrong, and here’s why.