5 ways to avoid debt in your 20s

Hands opening up an empty wallet

 

Ah, your sweet 20s. It’s absolutely guaranteed that you will have one sack full of adventures and another full of mistakes.

But that doesn’t mean you don’t need to think about what financial shape you’ll be in once you do say hello to that inevitable 30th birthday. Because it’s about then that you may be wondering about buying a house, starting a family, and perhaps even planning for the future with healthy personal finance habits in the bank.

Saving in your 20s is hard, and racking up a mountain of debt is easy. But don’t fret – it’s never too late to start blasting that 20-something debt and setting off on the road to a bright financial future.
Continue reading “5 ways to avoid debt in your 20s”

The difference between good debt and bad debt

Credit Card Online Shopping

Hang on, isn’t all debt bad?

Wrong. Well, sort of.

Technically speaking, having debt means you’ve spent money you don’t have. Sometimes this isn’t such a bad thing, as long as you’re getting long term value out of it and you’re not racking up debt to the point where you can’t see a way of ever repaying it – this is always bad debt. Continue reading “The difference between good debt and bad debt”