We know that debt can be classified as good or bad.

While it is possible to live completely debt-free for most of your life, it is not necessarily the best move you will make.

Good leverage can be a form of investment that will multiply your income and generate greater returns. Bad debt, however, can do exactly the same - the opposite way in fact and it will harm you over the course of time.

There was an article that was posted a couple of days ago about a person named Ken Ilgunas (Article link) of how he managed to save 95% of his income by living in his van and eating some simple food to repay off his student loan debt of $32,000.

A few of the highlights from the article was:

- He managed to repay off his student loan debt of $32,000 within 2.5 ...