Word of the Week:
Debt

Definition: Debt is money that you owe. Types of debt: credit card, mortgage, student loan, auto loan, small business loan

Key Takeaway: Debt is borrowed money that must be repaid, usually with interest.

Challenge: Make a list of what you owe and make a plan of how you can start to repay your debts.

Remember to live below your means and only buy things you can afford.

Fun Fact: Did you know there is such thing as good debt? Good debt could be federal student loans or your mortgage because they have low interest rates and are usually a good investment.