5 Most Common Types of Debt

Debt has become an increasingly common aspect of modern life, and understanding its various forms is your first step toward effective management.

From credit card debt that builds with every swipe to student loans that accompany graduates throughout their careers, each type of debt presents its own unique challenges and implications.

This guide delves into the five most prevalent types of debt that you may encounter: credit card, student loan, mortgage, auto loan, and medical debt. We will examine their causes, management strategies, long-term effects, alternatives, and prevention tips.

Whether you re currently navigating the complexities of debt or seeking to educate yourself, this guide provides valuable insights to help you maneuver through your financial landscape with confidence.

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