Debt can be a great way to finance a purchase or improve your financial situation, but it’s important to consider all of the consequences before taking on debt. There are a few things you need to consider, including the amount of debt you’re able to handle, the interest rate you’re paying, and the potential for late fees and penalties. It’s also important to keep in mind that debt can have negative consequences, such as limiting your freedom and increasing your risk of becoming homeless. What to Consider Before Taking on Debt There are many things you may want to consider before taking on any debt. Although debt when used wisely, can help you to build wealth and secure your finance. Debt is a double-edged sword, when a person is over-leverage and taking on too much debt, it can have negative consequences, such as limiting your freedom and increasing your risk of disaster, such as defaulting on loans and...