Posts from February 1st, 2020
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Dealing with Debt
This week I'd like to encourage a little common sense when it comes to your finances and the purchase of a home.
First on the list is debt. Nearly all of us carry it like an albatross around our necks. There can be a healthy debt load but there can also be the dangerous kind. We're not going to delve into all the potential woes if your debt becomes too much of a monster. The goal here is to trim it down to a more manageable and tolerable level. My parents just purchased a new (to me) vehicle. It turns out they have great credit (owning a home and not missing payments will help with that!). They don't carry a very large debt load (literally none) and pay off any bills they have on time and in-full.
On average, Americans carry almost $60,000 in household debt and about $11,000 in credit card debt. That is a sig...