When dealing with debt, it’s important to recognize that there are various types and they won’t always result in the same outcome. For example, going into debt for school or business purposes or taking out a mortgage to buy a home could be considered investments that might yield greater financial earnings for you in the future. This kind of debt may be costly in the short term but could potentially end up paying for itself in the long term if it’s an investment in an asset such as education or real estate. However, debt that isn’t likely to make a future return is simply a financial burden in both the short term and the long term. This is the kind of debt that must be managed carefully to avoid letting it quickly spiral out of control.