Debt is common these days.
A lot of stuff is bought on credit cards and now seems to be the time to buy the car - because the interest rates are low.
One thing is still true though — If you buy something on debt, you can’t afford it.
Rather go to bed with out dinner than to rise in debt.
You are making your future self pay for something, that you think you need today.
Sometimes you have to pay for years. You will not be financially independent during this time. You are enslaved. You have to bring home money month after month. You will dread unemployment.
What should you do instead? Save and pay cash. Or don’t buy it. Do pay your credit card in full. Or don’t have one.
Yes, that’s possible - use a debit card instead.
No sorry - I mean it. There are no good excuses. You don’t need debt.
But if you don’t listen - at least remember this. You will have to pay it back. You trade a part of your future. You limit yourself. You give up your freedom.
Call me old-fashioned - but time and time in my life I have seen, that debt is no good idea. I believe, that if you really want something, you should start saving for it.
I have been there. Several times - though I was only in moderate debt I hated it.
It’s possible to get rid of debt once and for all. But you have to be fed up with this way of living. As you can probably tell - for me that’s still the case - after all those years !
Paying of debt is an excellent way to flex some of the same muscles that you will need for investing. So go for it!
There are there are some excellent resources out there, if you don’t know how to do this.
I wish you resolve and luck!