The $17K Loan That Became $125K

The next silent money trap can cost you for years or even decades. That's why it's crucial to tackle it now. Debt is deeply psychological. You get the latest iPhone, you take that vacation, you go to Nordstrom Rack. It's easy to justify. It seems like a good deal at the time. You'll figure it out. I deserve to treat myself. I work hard, but before you know it, you're carrying debt. And soon enough you find yourself making payment after payment and it just does not seem to go down. I spoke to a couple recently. He had a $17,000 student loan. He ignored it for decades. Now it was over $100,000. I owe $125,000 to student loans on $17,000 principal. The rest is interest. It is time to make a plan. Debt does not have to be your enemy. You can actually tackle it without too much hard work. Otherwise you're going to ignore it and the payments can drain you financially. Just putting this 25 pound weight vest you have to carry everywhere you go.