What Are The Rules To Using Debt Responsibly?

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Part of good management of your personal finances is understanding when and when NOT to borrow money. Utilizing debt recklessly can set you back years from reaching your financial goals. This video review the 4 most important rules to utilizing debt responsibly. 1. Only use debt when it is an investment in the future. 2. Credit cards should be used as a convenience, not as a means of purchasing things you can't afford. 3. When getting into debt, make sure you understand the fees, interest rates, and pay off rules. 4. If you absolutely need to borrow money, only borrow the minimum necessary; even if you are approved for more.