Debt. It’s just another four letter word in our vocabulary. Yet, in American culture, debt manages to permeate our lives in almost every way imaginable. Everywhere you turn, people are struggling to stay on top of their everyday living expenses in addition to servicing their debt.
Obviously, the best advice anyone could give you would be, “Stay out of debt in the first place.” But, it’s too late for many of us. Debt has a tendency to creep up on us when we least expect it. Some personal finance writers differentiate between “good” and “bad debt.” I’m here to tell you that all debt sucks. Some of them, like a house payment, are just less oppressive than others I guess. Here are 4 reasons you should try to get out of debt as soon as humanly possible. [Read more...]