Debt: n – a liability or obligation to pay or render something and/or the condition of being under such an obligation.
Example: We went into debt paying medical bills.
The other day I had a moment of clarity; I was speaking to someone as interested about personal finance as myself, and realized I keep repeating a bad pattern. Until that moment, I hadn’t been able to see the pattern or even acknowledge that I had a repeating financial pattern.
For years, I didn’t have credit cards because I had majorly screwed up my credit and had gotten in over my head. Now, I’m financially responsible and use credit cards for everyday purchases – and pay them off as I go.
Recently, an article was posted on Life, Inc. that stated 1 out of 4 Americans have more credit card debt than they do in…