Sv Money:debt% Communication Library

DEBT

A common, serious issue

Debt is a huge problem in the United States today. While America itself is racking up a huge debt, consumer debt is also skyrocketing.

A large chunk of debt comes from credit cards, since consumers often pay high interest rates if they don't pay the balance every month.

Consumer loans are another major source of debt. This type of debt can quickly add up, PIling on student loans, with car loans, and mortgages is expensive and risky.

Don't get in over your head. Nearly 2.5 million people every year seek need professional financial advising to get help.

Credit Card Debt

A common, serious issue

Credit card debt is extremely common, but don't think that that makes it less worrisome.

A simple rule is to not purchase anything that you can't pay off within the month, especially when it comes to luxury purchases, like entertainment items or clothing accessories.

If there is something expensive that you want, try to save up the money for it before you purchase it so you don't fall behind financially.

Buying a House

Things to keep in mind...

Be certain in your decision. Make sure you like the house and the area, are willing to stay there for a while, and can afford it.

Try to build up your credit before you go house hunting. The higher your score, the lower the mortgage rate will be, which can add up to significant savings over time.