Debt is like fire in so many ways. To me, the most important is that, like fire, borrowing can - and needs to - increase our wellbeing. Think of a warm fire on cold nights, or firing up the barbecue when summer comes around. Fire (and debt) can make life better.
But many debt fires become a real emergency. As someone who once managed the family budget on an Amex gold card, I will be among the first to say that the experience of runaway debt is nothing golden at all. We need to avoid getting singed fingers (or worse) along the way!
Does your debt get you ahead?
When you first get credit, you suddenly have the power. There's lots you can light up with it, so the question becomes how you'll use it.
What makes a good debt decision? We want to make sure we're better off in the long term, after the debt's gone.