Best Personal Finance Tip

Don't get into debt. Simple as that.

And you don't have to just take my word on it; hear it form Warren Buffet yourself.



To be fair it's not so clear cut. Some debt can be good.

An exception I like to cite here is that debt for buying your house can be good. But it should be for a house that you can comfortably pay without worrying.

However some debt like consumer debt or credit card debt is just bad and there's no reason to ever have them. 

In fact, credit cards should really be called debt cards. Because you're really in debt once you use it. It's just that the interest varies from 0% (when paying on time) to greedy-without-a-conscience usurious (when you pay one second later than the deadline).

(But if you do find yourself in debt, here's what you can do.)


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