Debt is notoriously complicated.

People all over the country are doing everything they can toget rid of it and avoid racking up more.

But, we can actually use good debt to our advantage.

A gay couple laugh as they go over finances.

Yes, theres such a thing as good debt.

We Dare You to Take Control of Your Debt

Up for a debt challenge?

In 10 days,these 10 practical stepscould help you get back on the right financial track.

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What Is Good Debt?

The key to identifying good debt versus bad debt is understanding its purpose.

In the end, it should provide value.

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Heard of These Credit Card Debt Tips?

But millions of Americans overlookthese easy tipsthat could help them manage credit card debt even more wisely.

Read moreto boost your credit knowledge and keep your credit score in check.

What Is Bad Debt?

Now, bad debt is what youve heard horror stories about.

It has high interest rates that make you feel like a hamster on a runaway wheel.

You funnel all your extra income to it.

And still, debt collectors start calling your office.

Unfortunately, Americans have gotten comfortable carrying debt.

Theaverage personal loan balanceper U.S. consumer was at $11,281 in 2023, according to Transunion credit monitoring.

Start Saving Today

Debt can often get out of control during times of crisis.

Even if its a little bit, budget to put some money into your rainy day fund.

Its a good idea to have three to six months worth of expenses in your savings account.

This could be a high-interest credit card or a medical bill with a high monthly payment.

Freeing up the money to pay down smaller balances can speed up your debt-free journey.

And avoid thesecostly mistakeswhen paying down credit cards.

Snowball Method

you’ve got the option to try the snowball approach.

Once you pay it off, put that extra $175 per month toward paying down your car loan.

Need a Hand With Bills?

Listen, we know its tough out there.

But theres no shame in asking for help.

These companiesmake it easy to help yourself and your bank account.

Get Realistic About Your Budget

A budget can help you build a good relationship with money.

It doesnt have to be restrictive, but a tool to help you reach your financial goals.

Budget for savings, debtpayments, and living expenses and be realistic about what you spend in other categories.