Stay away from debts!

Yes, that's right, clear your debts as fast as you can (look who's talking hee..) as you don't want to accumulate your debts not forgetting the high interest charges and late payment charges. It's a pretty sad fact that there are many of us who are in some form of debts. I would however, categorise some debts as "good debts" e.g. housing loans while others are "bad debts" e.g loans taken from loan sharks purely for own enjoyment. We also sometimes see how some family would go the extra miles to celebrate any occasions. Sadly some end up having quite a lump sum of debts. But whatever it is, I think we all agree that it is always good to stay clear of any debts. I felt so relief and glad to be able to settle my supposedly 8 yrs car loan within 5 years previously. It gave me the freedom to enjoy my money a little bit more afterwards. But as my car is getting older now, we are considering changing my car soon...that means another round of car loan repayment period. Hopefully, we'll be able to do a bit of saving so that we can put down a bit more for the down payment. It would make the repayment period shorter thus us saving on interest charges. Anyway, maybe we ought to attend some sort of Debt Management Plans awareness seminars so that we can avoid being in debt or worst becoming bankcrupt!!