ESSENTIAL FINANCIAL ADVICE FOR THOSE IN DEBTSome easy ways provided by Jameson Van Houten of Stonegate Capital Advisors to help define what type of debt a purchase falls in and the difference between good and bad debt.

GOOD VS. BAD DEBTMany families out there can’t afford certain expenses

that have drastically risen, like the cost of education or

perhaps purchasing a new home.

However, these things fall into the category Jameson Van Houten labels as “good debt.”

These things are all worthwhile purchases that will increases a person’s quality of life, especially an education, since it is something that most likely will lead to an increase in income over time. Van Houten knows that feeling bad over large debts like this is a waste of time, since they happen quite frequently in life and are something worth investing for.

USE CREDIT WISELYBut Jameson Van Houten shares that

when debt isn’t purposeful, at times

it can become a large problem. One of the worst ways

to accumulate debt is the use of high

interest rate credit cards for every day

purchases.

Being honest with oneself about what is attainable and manageable within a person’s finances will hopefully avoid many years of paying a minimum payment that only chips away at the balance.