Adam Sherez / UNSPLASH.COM

Debt is a powerful tool which can be used to magnify good things or exponentially multiply misery.

Generally speaking, using debt to buy items that will most likely decrease in value over time is a bad idea.

But debt used to finance the purchase of an asset that pays you an income (such as a rent house, a commercial building or even a business interest that pays a consistent dividend) is different.

GotCredit /

Here’s a situation I see too often - a young adult child runs up a credit card bill. Mom and Dad find out and learn that the interest rate is outrageous. Then they come to me asking how can I help him transfer the balance to another card with lower interest?

My question is, “Why would you want to do that?”

The answer usually involves high interest rates being wasteful, etc. OK, we can agree on that.

Got Credit/ /

An audit of a Louisiana town's finances found that it has drastically outspent its revenues for the past four years, with an average excess spending of $187,000.

An independent audit found the town of Newellton spent more than $205,000 beyond what it had in its general fund during the most recent fiscal year.

The audit by Huffman & Soignier says the deficit has been offset each year by transfers from the town's utility fund. However, the utility fund's spending also exceeded revenues last year, bringing the total net deficit to more than $200,000.

Americans In Debt Deeper Than Ever

Feb 19, 2018
Mike Lawrence / /

Many Americans are swimming in debt and getting in deeper than ever. One report suggests total household debt has risen to 13-trillion-dollars for 2017.  Louisiana appears to be America’s capital of past due debt, with almost half of its residents in debt that has gone into collections.  Professor of Economics at Xavier University of Louisiana Dr. Jose Bautista says a lot of workers aren’t making enough money.


Image courtesy of jk1991 at

Sometimes the numbers seem to say one thing, but real life screams something else.

That’s the case when I talk to young people with lots and lots of college debt to pay off.

The voices in their head say something like this: