Debt Is Not Only About Money

Most of us try to avoid accumulating too much debt, for fear of having to repay it for the rest of our lives and beyond. However, as one elder interviewee said, “debt is not just money owed. It’s having to work longer and harder for no reward. It’s worries and a burden on your family. It’s the destruction of many a family, many a relationship. It takes away your time and, in the end, your retirement.”

For this reason, try to reduce your debts, whatever these are (credit card, student loan, etc.) but don’t let your lifestyle affect your family or your future plans.