What Is Debt?

Written By Kelly

This is a fun topic because I am about to blow some of your minds. What exactly counts as debt is something that can go one of two ways in conversations. You have the deniers that think a car payment is the American way and student loans are "good debt". Then you have the people that don't want it but haven't taken the steps to get rid of it for one reason or another.

So what is debt? Debt is anything you owe to anyone for anything. Anything.

  • Credit cards

  • Car loans (or boat loans, rv loans, you name it!)

  • Student loans

  • Home mortgage (this debt is more acceptable by the debt free community but a 15-year mortgage is a must)

  • Outstanding medical bill

  • Payday loans

  • Personal loans

The list can go on but we will stop there. If someone can take it away because you don't make a payment, it's not yours. That is why I am here, preaching what I preach, to get YOU to own your stuff and to stop owing people for things.

Kelly https://KellySjostrom.com
Previous

This Is What Debt You Should Pay off First!
Next

What Is a Budget and How Do I Get One?