PHOTO: LILLIAN CAMERON
Some well-off people are fortunate enough to avoid debt altogether; for the rest of us, though, it's difficult to get things like cars, education, businesses, and homes without borrowing the money. Of course, it's all too easy to take on debt for any number of less worthwhile things, too: the latest electronic gadgets, expensive clothing, and even dinners out all seem to find their way onto our credit card statements if we're not careful.
And while high-interest lenders are often happy to front you more money than you're easily able to pay back—it's the reason they exist, in fact—you'll end up repaying far more than you borrowed if don't learn to say "Thanks, but no thanks" when the pre-approved enticements to go deeper into debt come calling.
But you need to show you're creditworthy, and you do that by borrowing, right? So how much is enough when it comes to credit (also known by its less sexy name: debt)? Is it possible to play the credit game without getting burned?
Sandra Ross, an unbiased credit expert, leads Give Me Some Credit!, a free info session at the Library Tuesday night. She says you can safely take on a certain amount of debt—IF you're smart about what you're doing. On Tuesday Sandra shows you how to calculate the amount of debt that's right for you, how to spot debt traps, and how taking on certain kinds of debt can actually help you build wealth. You can register on the Library's website, by calling 812-349-3263, or by emailing rstacy [at] mcpl [dot] info. See you there!