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Six Problems With Debt (& Why You Should Want to Be Debt Free)

If you don't think debt is a problem, simply go look at savings rates in the United States. Or maybe look at the number of working adults living paycheck to paycheck.

1. Interest from debt

That $25 t-shirt isn't $25 if you throw it on a credit card and let it rack up interest. By in large, understanding how interest works in the first place is just another problem with debt.

2. Retirement & savings hindered

If you're constantly paying your debts, chances are what you're not doing is investing for your future.

3. Debt to income ratio

Debt never seems to be a serious matter until you go to buy a home and you can't get approved for the lending.

4. Financial stress

The biggest problem with debt is that thinking about it is just stressful. Not having a plan of action can make debt seem overwhelming, thus causing financial stress.

5. Relationship issues

Debt can be problematic on your mental health, but also your relationships! If you're in a serious relationship or married, debt can be a subject of controversy in your relationship!

Tap the link below to learn (Why You Should Want to Be Debt Free)

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