Facing your debts can be depressing for several reasons. First, all the stuff that caused the debt is not so wonderful and new as it used to be. And the interest rates ... Yikes! But the worst, the all-time most horrible thing about facing debt is the realization that given the present rate of repayment, that monster is going to hang around and invade your life like a huge family of free-loading relatives, for a very long time. That’s the bad news.

Pop quiz! Is there a difference between borrowing and financing? No need to stress — I’ll tell you. There is, and understanding the difference is very important to your financial health.