Like a lot of things in life debt can be a useful thing if used properly
. If you only have manageable debts on ahome and possibly a car you are probably managing your debt well. However if you are letting it get out of hand (you are using it to support your spending habit every month) it can be a destructive force that will affect your life for years. The consequence of not dealing with a spending/debt problem can include bankruptcy, losing your home, and destroying relationships.