When you hear people talk about debt, the general consensus is that debt is bad and must be avoided at all costs. Credit cards or any type of debt are really just a financial tool, and when used properly, can be very beneficial. For example, how many people could save up hundreds of thousands of dollars to buy a home with cash? It can be done, but it might take a few decades to reach that goal. Instead, by borrowing money you can use leverage to make the purchase now instead of waiting.

The problem with any tool is that they can be used improperly, which can ultimately do more harm than good. Using credit is no different. When used properly, you can leverage your buying power to make financial decisions that will benefit you in the long run. The basics to credit and debt cover:

1. How to establish credit.
2. The importance of your credit score.
3. How to improve your credit score.
4. Getting out of debt.
5. Borrowing money for college or a business.

Weather you're trying to establish credit for the first time, or you're already up to your eyeballs in debt, this credit and debt basics guide can help you begin to take control of your finances.

Are you planning and saving for retirement? That's good, but that may not be enough. While taking the initiative to plan for the future and begin saving money to fund your retirement goals is a great start, there are plenty of additional planning items to take note of. Here are six of the most common planning mistakes:

1. Not maximizing your employer match.
2. Borrowing from your retirement assets.
3. Failing to diversify.
4. Failing to rebalance your portfolio.
5. Taking an early distribution.
6. Becoming paralyzed by choices.

As you can see, saving for retirement is a great start, but there are many areas in which you can still make mistakes. Continue reading to learn more about these six retirement planning mistakes and how you can avoid them.

A budget is at the foundation of any financial plan, but unfortunately, most people don't take the time to create a budget, or have a difficult time following one. While it can be a bit daunting to sit down and go through all of your expenses and find out where you're money is going, that is the only way to completely understand your finances. Without knowing how much money you have coming in and how much is going out, and where it's going, it will be that much harder to get ahead.

Here is a basic introduction to budgeting. Once you learn the basics, you can head over to the step-by-step instructions for creating your own budget. It won't be long and you'll have a better understanding of where you're money goes, and how you can cut back so that you can fund your important financial goals.

Times are tough, and many people turn to their retirement savings in a time of need. If something comes up and you have an urgent need for money, your first option should be from your emergency savings. If you don't have an emergency fund, or the funds available aren't adequate, you're probably inclined to tap into that retirement account. Before you do, here are some things to consider when looking to borrow from your 401(k). Taking a loan against your retirement plan is better than making a taxable distribution with other assets, but it should still be used only after other options have been exhausted.