Debt is involved in some of the biggest decisions and achievements in our lives. Taking out a mortgage, buying a new car, and using loans to pay for college are common ways people accumulate debt, but they don’t necessarily mean you’re mismanaging your money.
The average American household owes more than $137,000 in debt. If you’re in a similar situation, remember that it’s how you manage that debt that counts. Even with high amounts of debt, smart decisions and the right debt management strategies can minimize the impact of that debt and reduce how much you owe.