Tuesday, November 6, 2007

Some Commonsense Advice about Debt

The first words about debt --- “Avoid it”. If possible the only debt you should incur is mortgage or business related debt. There two types of debt are for types of assets which are appreciating (hopefully) and have tax advantages. All other types of debt used by consumers are for items that depreciate the moment you purchase them; boats, cars, and all that stuff from the mall.

If you do have an array of credit card and other debt, the most important consideration is creating a plan to get out of debt… and sticking with the plan. It is possible to both get out of debt and save at the same time. The following article explores some of the key savings and debt payment details that must be contemplated.

How to Dig Yourself Out of Debt and Save at the Same Time