Debt is a cancer. Debt is a disease. It destroys life, health and relationships. This burden, this epidemic is destroying American families and American lives. When are we going to stop the madness, wake up and save our fellow man. What do you think? Is this being to dramatic or do you agree with the problems bubbling up?
This post will give you an insight to three major debts to watch out for. Debt is something that will destroy your personal financial house. What are the top three debts which you have to worry about? Why are these particular debts so deadly and how do they sneak up on people?
These three debts are:
- Student Loan Debt
- Credit Card Debt
- Home Mortgage
Credit card debt allows emotions to run our finances by allowing us to spend effortlessly. Several days may pass and amounts may quickly accumulate before we even know what hit us. On top of that tricky and manipulative payment plans can leave us digging ourselves out of a deep hole.
Finally, the home mortgage, the American dream of owning a home, often leaves us maxed out. On top of that the complexity and misplaced trust allows us to get involved in contracts which may not be in our best interest.
Read more on these topics:
This post was reposted from http://finlit.biz/debt/3-debts-which-will-kill-your-finances/, originally written on January 23rd, 2013.
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