6 Debt Myths to Consider.
Posted on | November 28, 2009 |
Earlier this week, Ray from the Financial Highway blog had a great list of his Top 6 Debt Myths that I thought I’d share on this rainy Saturday… well, it’s rainy where I am anyway. 
1. Debt Is A Necessary Evil
2. Paying the Minimum Payment is Fine
3. I Can Borrow More Money to Pay Off My Debt
4. Takes Forever to Pay off a Debt
5. I’ll Just File Bankruptcy
6. Just a Few More Charges Will Not Hurt
Ray does a nice job of putting the spot light on the thinking (I won’t say “reasoning”) behind each myth, and why is isn’t true. And it’s always nice to see someone who is realistic about debt. For example, some people like to preach the no-debt lifestyle, even though it isn’t practical. Ray’s view is much like my own that some times debt (like student loans, and a mortgage) is necessary…. just don’t over do it. 
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