Also known as borrowed money. Not all debt is created equal. You can take on debt for legitimate reasons—to buy a home, to finance a business, to go back to school. But it’s also easy to borrow money for things you just want, like swiping your credit card out on a shopping spree or taking out a car loan. If you are responsible with your debt and make your payments on time, it can be a great way to live the life you want. But if you are irresponsible with it and make late payments (or don’t pay at all a.k.a. default) you can end up with interest payments, a bad credit score, and even bankruptcy. (See also: Default)

This new year, get out of debt and become financially free

I'll teach you my 3 simple, life-changing habits to get control of your money!