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People who tell you debt is a tool usually are in the business of selling debt instruments, which makes it a tool for them. You can live life without debt but it takes a little work to get there, but then nothing worth doing is ever easy. The easy way is typically not a way to improve your life, but rather it improves theirs at your expense.

Concerning debt, don’t have any if you can avoid it. If you already have debt you need to use a budget, and don’t pile up more debt, which means using credit cards. For debt you already have and you believe debt consolidation is the answer it won’t be unless you change your views and approach to debt before you consolidate it. Ultimately in the end we all will pass on leaving an estate behind. If you leave an estate groaning under a burden of debt you’ve only left pain and suffering for the loved ones who must now deal with not only your passing but also your obligations.

Debt is not a tool to make your life better. It is a millstone around your neck holding you back from your potential. If you can cut that millstone loose you can stand taller to see more opportunity around you to build a brighter future for you and your loved ones. Don’t miss that opportunity because your interest paid was building a brighter future for someone else.