Step 2: Eliminate Bad Debts part 2 -- More about DEBT

Many people are trapped in the circle of bad debt, borrowing money all the time to purchase things that will only drop in value, or depreciate, such as an automobile or a plasma TV. Sometimes, people even have to keep borrowing money to keep up with paying debt, becoming slaves to interest.

It is alarming the gigantic debts being run up by Canadians, often thanks to credit card companies’ handling out credit cards like candy. Credit Cards should be used for monthly expenditures and paid off every month in full. Never pay Credit Card interest!