Here's part 2 of a piece from Bankrate listing ten things to stop doing in 2006:
3. Stop running up credit card balances.
4. Stop using variable rate debt.
I'm going to combine my comments into one on this set: Get out of debt. Credit card debt for sure, but all debt if you can afford it.
I know there are those who argue that mortgage debt is fine as long as it's managed, but my personal point of view, and what I've seen work in my life, is to have no debt at all -- mortgage or otherwise. Once you get to that point, you can significantly grow your net worth. Of course the keys to eliminating a mortgage require that you buy a house you can afford (for more on this topic, also see More on Buying a House You Can Easily Afford and Comments: Buy a House You Can Afford) and then sacrifice spending on other items for several years until you get it paid off. Most people don't want to do this.
Here are some posts on credit cards and debt that might help you get/stay out of debt:
Click here to read part 3 of this series.
Free Money Finance recommends Emigrant Direct.
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