Debt to most feels like a dark, looming cloud or a weight that slows us down. The total amount of money owed is debt. It comes in many disguises like a house, a new car, a diploma, or a trip to the Caribbean to name a few. No matter the disguise, debt is either secured or unsecured. Secured debt is debt backed by an asset as collateral (Ex: car loan,
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Like the credits at the end of a movie, our financial credit is often ignored. When discussing credit most people think about credit scores thanks to various commercials. Yet, credit is money or services borrowed that we agree to pay back. This includes but is not limited to credit cards, loans, and lines of credit. The four types of credit are: Charge Cards are credit cards that can’t carry a