As a young adult, you know you need to build up your credit. You need to buy a car, and you want to be able to go to school. Certain things require you to take on debt, but that doesn’t mean you have to be in debt forever or that you need to be overwhelmed by what you do have.

Becoming debt-free doesn’t have to be difficult. Living with debt doesn’t, either, but you should aim to have “good debt.” Good debt is any debt that grows in value. For example, a home may grow in value over time. Or, student loans may pay for your schooling that gives you more opportunities for higher-paying work. These debts are more likely to benefit you.

Other debts, like credit debts, can weigh you down and have no real long-term advantage in most cases. For instance, if you spend $300 on furniture, that furniture won’t go up in value in most cases. Instead, you’ll lose value on it over time and still be paying interest and payments each month.

Getting out of debt isn’t going to be immediate unless you have a financial windfall. However, it’s easy to get started on paying down your debts. Start by saying no to things you don’t need. Then focus on taking on extra work or bringing in money in other ways. For instance, if you can babysit after class or can sell paintings on the weekends, do that to bring in extra cash to pay down your debts each month.

If you’re really in over your head, it’s possible to go to an attorney to learn more about bankruptcy or other debt relief options.

Source: Dave Ramsey, “6 Keys for Young Adults to Become Debt-Free,” Christy Brown, accessed April 04, 2017