Debt is money that is owed or due. While it’s sometimes taken on strategically, like in the case of education, it should never be taken lightly or without a specific plan on how to repay. Whether it’s national or personal, short-term or long-term, debt rarely carries good connotations. However, being in debt doesn’t have to be permanent. With discipline and good management, it’s possible to get yourself out of debt and back on solid financial ground.
How Much Will My Loan Cost?
Taking out a loan is a big commitment. Determine what your payment will be — including interest.