Debt is something that we never want to get into.  We may have fears about getting into it, and if we do, it may be extremely hard to get out.  Debt is something that almost everyone has.  Whether people are in debt because of their mortgage, or because they have bad spending habits, there are millions of people in debt.  We always hear how bad debt is, but why should we avoid it, and what are the disadvantages?

Stress – First of all, the biggest thing that debt causes is stress.  Simply asking yourself how am I going to afford this for everything is something to worry about.  It will be constantly on our minds, and every time we buy something we will feel guilty because we know that we’re just adding to it.

Work harder – Not only does it cause stress, but we will have to work a lot harder to make sure that we can find the money to pay the bills.  When in debt, we may find that we have to get a second or third job!

Never at ease – You will never be at ease if you’re in debt.  The bills will come in the mail, the debt collectors will call you, and you will never feel free.  Debt is a dangerous thing, and should always be avoided as much as possible.

Loans -  When we go to borrow money for things like cars, and other bigger purchases, we often need loans.  Although, if we have a bad credit score, and the lenders find out that we’re in deep debt, they may say no, or give you a higher interest rate because they’re afraid you won’t pay them.

At jeopardy – If you’re in debt, you’re most likely not saving for your retirement or for your future.  This can be a major problem!  It is important to save at least 10% of each paycheck we recieve and place it into a savings account or retirement account.  If you can’t plan for your future now because you’re in debt, when do you plan on doing it?

Getting into debt is a dangerous thing, and is something that you never want to get yourself into.  It is important to stay above the hole, not below it.  Prepare for your future, think twice about what you’re buying, and never get too far into debt, because if you do, you’ll have these horrible problems to face!