After graduating from college with a master’s degree at the age of 25, I started life with a clean slate.
First was the newer car “needed” since I had a better-paying job and could afford it. That, of course, came with a five-figure loan.
The house was purchased below market value though we still ended up with a $100,000 mortgage and a home that needed to be completely renovated.
And last but not least, we ended up buying a lake house with family. And yes, we went in on the lake house purchase already nearly $200,000 in debt.
There are some things we could have done differently to avoid debt. But, at the same time, I do not regret any of these decisions.
It’s okay to go into debt; it’s just not okay to stay in debt. You have to face your debt; otherwise, it can be challenging to make progress financially.