Debt can be useful when used correctly. If not, you can find yourself in hot water. In fact, debt can ruin your life and here is how: 

Debt can negatively affect your credit score

 ….. and may prevent you from being able to rent an apartment once you graduate.

Debt can prevent you from reaching your life goals

Some jobs require a credit check. Imagine losing that dream job because of poor credit. Want to change jobs? Careers? You might be trapped by that very same debt.

But life goals extend beyond careers and jobs. You may not have the funds to donate to your favorite charities and to help others. That dream trip across Europe? No way. 

Debt can cause stress

If you can’t cover your daily expenses your life can’t help but be stressful. Research shows that stress can lead to illness and depression, making it even more difficult to get out of a downward spiral. 

Debt can limit your ability to make a large purchase

You have large purchase aspirations, such as a house or a car to replace the junker you have now. Too much debt can even prevent you from purchasing that washer and dryer to put into your first apartment.

Debt can prevent you from saving for retirement

While retirement seems like it’s a long way away, time will go fast. Thanks to compounding, the retirement savings you accumulate in your 20’s and 30’s will have the biggest impact on the quality of your life in retirement.

Want to avoid all of this? 

Take advantage of all UNI has to offer to help you manage your debit. This includes taking FINANCE 1040 -- Financial Skills for Smart Living, Adulting 101 workshops provided through our Professional Readiness Program, Live LIke a Student programs through Financial Aid and the many experienced business professional speakers we bring to the campus. Here is an upcoming opportunity!

On Wednesday, March 27 at 7:00 pm in CBB 125 OR online, join financial expert Joey Beech, author of A Girl’s Guide to Personal Finance, will share her experiences to help guide you when planning your next financial move. Special guest moderator Gary Kroeger, owner of Outlier Creative Solutions, and former cast member of SNL, will moderate the live event. All participants - live or online - will have a chance to receive Joey’s book or some swag with the new UNI logo. Register at https://twitter.com/UNIpbl to attend online or in person. Event is sponsored by the Alpha Chapter of Phi Beta Lambda (FBLA-PBL).