Getting Out From Under The Debt Burden Is Wise
There are ways to do it
Having debt causes problems and stress.
Money is an important part of life. Everyone needs a certain amount of it to sustain their lifestyle and pay their expenses. Although paying your way as you go and thereby living below your means is wise, there are times when debt may be incurred.
Using credit cards has become too easy and perhaps causes problems for people who go into too much consumer debt. Credit cards are valuable tools for spending, but it is wise to pay off the balances each month so that credit card debt is not built up.
Some debt is necessary and useful for most people. Such items as a home mortgage and purchase of a car will likely require taking on debt. Those are usually able to be managed and may be required.
To determine the state of debt in America, GOBankingRates recently conducted a survey of 1,039 Americans. Among the 10 questions asked was a query about financial goals. For 27% of Americans in the 55–64 age group, commonly classified as baby boomers, getting out of debt was the top priority — well ahead of the 23% who wanted to save…
