Debt is the worst.

Sometimes people draw distinctions between “good” and “bad” debt, but for most of us, this is mostly just unhelpful hairsplitting. Debt is no fun even when you get something out of it, such as a college education.

We all tend to have a few different debts, often including student loan debt, credit card debt, and debt from medical expenses.

It might not be easy to get out of debt, but it is absolutely worth it. Start with these debt-elimination tips. The increased flexibility and peace of mind you gain when you’re no longer saddled with debt can transform your life — including your mental health.

By acquiring a few good financial habits, you can not only get yourself out of whatever debt you’re in right now but also live debt free indefinitely.

Debt can be scary, overwhelming, and isolating. When all you can afford is the minimum payment on a high-interest-rate credit card, it’s too easy to believe that you will never get out of the red.

Where can you turn for debt help? Here’s a debt elimination tip that you shouldn’t overlook: The answer might be the creditors themselves. They have the same goal in mind — helping you find the best and quickest strategies to pay down your debt.

Paying off debt is hard. If you have a little extra time, energy, creativity and motivation, you should strongly consider starting a side hustle.

Most of us have some debt. But there’s good debt and there’s bad debt.

Taking out a mortgage or student loan are examples of good debt because both will generate money over time.

Credit card debt is an example of bad debt. And most of us have it.

If you’re saddled with significant debt, you might wonder if refinancing your mortgage to pay off debt is a good idea.

Millions of Americans are dealing with consumer debt—estimated to have increased to $15.31 trillion in the third quarter (or Q3) of 2021, an increase of 5.4% or $772 billion.

And consumer debt is not the only kind they have to figure out how to repay. 

The level of medical debt in America is shockingly high.

According to Debt.org, America’s debt-help organization, the average cost to an individual to stay in a hospital is $3,949 per day. And the average healthcare consumer pays more than $10,000 per year. As a nation, we spent $3.5 trillion in 2017 for health care.

The numbers paint a bleak picture. Americans pay more for health care than anyone in the world, and the impact of facing extreme medical debt can be financially devastating for individuals and families.

Yet despite what the numbers say, there are ways to lessen the financial burden of individual or family health care. Find out how in this guide to managing medical debt.

Your credit score is one of the most important factors in your personal finance life. A bad credit score can make it impossible to get approved for a loan, get good insurance rates, or even get a job sometimes.

Knowing what can hurt your credit score can help you keep your credit score in good standing. 

Each year, many Americans struggle to manage their medical expenses. Routine healthcare procedures can be expensive enough, but there are even more significant costs associated with emergency medical care, chronic illness management, and childbirth. Too many Americans are finding themselves drowning in the medical debt they’ve accrued from essential treatment and medication, with or without health insurance. Three major mistakes can cause patients to rack up more significant medical debt than is necessary, but fortunately, these strategies can help.

Getting accepted to an academic program can be one of the most exciting events in a student’s academic career. However, this excitement is often followed by panic. Many students and their families become overwhelmed by applying for financial aid, taking out loans, and cutting costs to afford a college education. Student debt is something that can plague individuals and their families long after graduation, but doing extensive research before borrowing can help. Here are a few things that borrowers should know about student debt before they sign on the dotted line.

Traditional approaches to eliminating debt tend to create a black-and-white view of money matters—reduce spending so you can increase debt payments.

It may seem counterintuitive, but investing while you’re managing and paying off loans can help you eliminate debt. How? By increasing the earnings you have available to make payments.