Why You Need to Get Out of Debt… And When You Should Stay in Debt

Most people understand that being in debt is generally a bad idea. Yet over 75% of U.S. families have some sort of debt. What does all this debt cost us? Is it always bad to carry debt?

Debt is defined as money that was borrowed and is to be repaid on certain terms. The terms usually include a specific time frame regarding when the full debt will be…