Deliver yourself like a gazelle from the hand of the hunter, and like a bird from the hand of the fowler. (Proverbs 6:5)
This ought to be our view of debt, especially depreciation dept. Dept like sin will take you further than you want to go, keep you longer than you wish to stay and cost you more than you are willing to pay. When calculated, the amount of interest paid on dept is astronomical. There is little more expensive than the purchase of money. Purchasing things that we cannot afford accumulates the greatest majority of debt. If we could afford them, we could pay for them. Some debt is difficult to avoid for many. Nevertheless, it is to be avoided or diminished as quickly as possible. A simple rule in reducing debt is to never pay the minimum due. Every dollar paid above the required payment comes directly off of the principle. It is easy to get into debt, but more than difficult to get out of it. It takes little effort to fall into a ditch, as painful as that can be, but it takes much exertion to climb out.