At some point or other, a lot of folks have fallen into what feels like a financial Twilight Zone. The furnace goes bust or the car needs a new transmission – or your employer unceremoniously hands you a pink slip. Suddenly, there’s not enough cash in your bank account just to scrape by. You have to take on debt. But what’s the best way to do so? Is there a best way to take on debt?
Most of us aren’t excited about the idea of going into the red to make ends meet, but it happens. The only real mistake is taking out credit without a game plan, which too often leads to long-term debt that becomes an emotional albatross. Should you need to take on debt, here are five pointers to make sure that you come out in one piece.