Hey Besties, welcome back to another episode of Network in Chill with me, your host Vivian

2, aka Yerich BFF, and your favorite Wall Street Curly.

And today we have to touch upon a kind of yucky topic.

Everybody's least favorite four-letter word, da da da da da da, debt.

And I know you're immediately starting to panic.

Before you start to feel down about yourself, please know that while debt can be very scary,

there are also a lot of strategies to help make it more manageable.

I know a lot of finance reporters and educators in the past have had a pretty judgmental attitude

about debt, but you are not going to get that here. Do not worry, this is a shame,

free zone. But what I don't want you to do is avoid the topic entirely just because it makes

you uncomfortable. We all make mistakes, and whether your debt is, quote unquote,

really evil scary debt, or quote unquote, super good debt, I'm going to be able to help you

talk through it today. We're going to cover the different types of debt, what you should consider

when taking on debt, what it means to have debt, and that it does not mean you're a bad person,

it does not mean you're financially responsible. And last but not least, we are going to break down

how to get your debt in check and how to pay it down so you are completely debt free if that is

something you wish to be. All right, let's get into it. So first things first, I do want to talk

about different types of debt. And the most important thing to really be thinking about when

you consider what debt something is is the interest rate. Essentially, how quickly does that debt

grow? For example, it's the same concept of compounding that you get in a high yield savings account.

So say you have a high yield savings account that gives you 4% in annual interest. You have a

hundred dollars in the account. At the end of the year, you'll have 104 dollars because your

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