The Importance of Family Finance

"Avoid debt like the plague" is one of the most important things you'll learn in life. Learning how to be financially responsible can minimize debt. Debt hangs over your head and "interest is your constant companion" as J Reuben Clark Jr. said. Large amounts of debt can tear apart families. Chaos happens as strained relationships grow more prominent and more contention in the family exists. Studies show that 89% of all divorces come from confrontations over money. It might be necessary, however, to take out a loan to acquire a car, home, or education. Using, managing, and building credit wisely can help us "maximize our financial stewardship" and keep harmony in our home! Organizing a debt-elimination calendar can help you manage payments. Make a list of all your debts then pay the most expensive one first. The key is to act now to keep a healthy relationship with your family!