FMOOD 0015: Zero Debt or Manage Debt? - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2016-12-31T07:00
There is what sometimes can be a spirited debate with regards to whether one should get out of debt and swear it off completely or get out of debt and manage it well in the future. Which option is right for you?
The simple answer is that it really is up to you. Everyone is different, and everyone's situation is different. The folks on the side of getting out of debt and staying out of debt think that it's ridiculous to go back into debt once debt has been eliminated. Meanwhile, the folks who think that it's fine to manage debt don't understand what the problem is if you can get into debt, manage it well, and pay off the debt as required with minimal effort and a good plan.
Both sides share something in common: it's necessary to start out by reducing debt either completely or to an amount that is manageable - which means that paying off debt is the starting point. That's a good thing. What you decide to do after that is up to you, and there are pros and cons to either side of the debate. I'll be taking a look at both today.
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