Retirement planning can never begin soon enough. In today's topsy-turvy world of economic instability and talk of Social Security and Medicare collapse, a person needs to take charge of their own finances and retirement plans.
The word debt comes from the Latin 'debitum' meaning 'thing owed'. It is typically money that is outstanding from one party to another however; it can also refer to goods or services. Usually debt is to be repaid under the obligation of a contractual agreement on the basis that it will be returned, plus interest, on or before an agreed date. So, in essence, debt is a transaction undertaken by two parties whereby one party chooses to put off turning over their side of the deal immediately.
It sounds fairly simple, a change of address and a new place to sleep. However moving house can create numerous problems for a family, in particular a financial burden that can be felt long after the move is finished. Forgetting to factor in the cost of moving house can leave you short whether you are planning to sell and buy again, buy and not sell (in case of a first home buyer or investor), move out on your own and rent or simply change rentals.