Tic Toc… That’s the sound of your debt clock

DEBT AND TIME WAITS FOR NO ONE   We’ve heard it all before when it comes to debt especially from those people who are sinking and have no idea how to get out from underneath. Some people think that debt can build over time¬† like my friend Tony who had to pay back over $100,000 in debt, so it’s true. Debt isn’t all bad but recognizing that any money owed is debt and it’s a debt that needs to be paid back. Consequently you can also accrue debt faster than you can shake a stick at when you aren’t mindful of your finances. It’s just another reason I feel a budget is important for our financial health and what has helped us get out of debt.   What is debt?   We’ll keep this part simple and honest. You want to buy a mobile home that costs $20,000 and haven’t got the savings to buy it out right so you buy it on credit instead. Now you’re in debt, you are now obligated to pay for something you didn’t have the money for in the first place. There are two ways out of this, the first is to pay off […]

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