There certainly is an ongoing debate to be had about whether or not no debt is good financial debt. Taking out a debt and then paying it off is the only means most of us can afford to buy big-ticket items such as cars and houses without mortgaging our futures. While these loans often are only justifiable and bring real value to the individual who is taking them on, there lies another end of the scale that involves indiscriminately taking on credit debt. Credit cards and loans are available for anyone willing to walk through the doors of a bank or credit union. The question of whether or not this type of debt is helpful or detrimental to your financial situation is not as clear cut as one would like. For starters, there are many different types of no debt programs available to consumers today. It’s important to understand what they are, how they work, and why it’s a good idea to consider them if you’re looking for a fresh financial beginning. The term “no debt” actually encompasses a rather broad range of circumstances. It can mean being debt-free from all but a very small number of sources – like maybe only mortgage payments and a few medical bills. It can also mean being debt-free from all but a handful of sources – including a vehicle, a cruise ship, a major appliance, and possibly even student loans. For the purposes of this article, we’ll focus on the last example, student loans. When you pay off student loans, you generate income in the form of higher paychecks. If you do have a very tight budget, however, you may only be able to generate income from a few sources before your account becomes “high risk”. In this case, you’ll find yourself paying high interest rates and fees on your student loans. This can make it impossible for you to ever pay off the principal on time. No debt doesn’t have to mean low income, either. It can instead simply mean that you have a bad debt to income ratio. A bad debt to income ratio is when your monthly expenses far outweigh your monthly income. For many people, this ratio isn’t all that high, but for others it can be a very large issue. In this case, using a bad debt consolidation loan to bring your debt down can be a good solution for the financial situation. There are a few different ways to get out of debt, though. The two most common ways to become debt-free are by obtaining a job with a decent income and by racking up credit card debt or using other financing options to consolidate your debt. Getting a job with a decent income is, of course, the easiest option. It will require some effort on your part in order to land the job, however. If you are able to land a job that pays well enough that your monthly expenses aren’t too high, then this method will be very beneficial to you. If your income isn’t high enough to allow you to become completely debt-free, then another method is to take out a loan. A loan, as opposed to student loans, will allow you to make payments over time, and they won’t be extremely high. Another good debt-free strategy is to borrow money from family or friends, and to not put any obligations on that money until you have paid it back. This ensures that you can pay back the money without having to worry about whether you will be able to make the monthly payments. Many people believe that a life with no debt means a life of crime, because there will always be temptation to buy things that you can’t afford. Unfortunately, this is partly true. You will always be tempted to buy things that you shouldn’t, and when you can’t afford to pay for them right now, then the temptation is there to use credit cards to make it so that you can buy them. The problem with this type of debt-free living is that you are risking not only your own credit card debt but also the credit of those people that you owe money to. If you are serious about living a life that is free from financial stress, then the best thing that you can do is to get a free guide that can show you how to get started. This type of guide will give you strategies and tips for avoiding credit card debt. It will also give you information that will help you get rid of other forms of debt as well.