chapter 3
Short-Term Debt

In This Chapter

◆ Credit cards: buy now, pay later
◆ Car loans: the must-have accessory?
◆ 401(k) loans: robbing your retirement
◆ The danger of payday loans
◆ Medical costs can cause heart attacks
◆ Legal bills, alimony, and the IRS … oh my!
In the last chapter, I discussed the use of long-term debt to acquire “assets” that you would not be able to purchase otherwise. Short-term debt on the other hand is used to help you survive day-to-day. While its use is justifiable from time to time (buying a car so you can get to work), more often than not, the purchases are avoidable.
For many people, excessive or impulsive use of short-term debt can create a major roadblock to achieving their long-term goals. Hence, we tend to ...

Get The Complete Idiot's Guide to Getting Out of Debt now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.