2020 was a year of breaking records and not a lot of good ones. Student loan debt barreled over $1.5 trillion. College doesn’t have to equal debt. Not for you or your kids.
If there’s one thing I’ve preached since the start of Freedom Sprout, it’s this: if we teach kids how to manage their money when they’re young, we won’t be showing them how to dig their way out of debt later. It’s important for kids to understand debt, and how it can destroy their life.
I love reading finance books. I read one book a week, and more than half of those are financial in nature. But if there’s one thing I’ve learned through reading, it’s that no book is going to solve your problems for you.
Do you plan to leave a legacy? What’s that mean to you? You may be considering your legacy, or you may be in a spot where you’re wondering if you’ll even have all your debt paid off in this lifetime. Let’s look at both scenarios, and see what the future holds.
For decades, debt has been a way of life for Americans. Gone are the days when a mortgage was the only sizable debt someone would take on in their life. Today, it’s not uncommon to see a car payment the size of a house payment from the ’90s.