Christy Rakoczy
Student loans and mortgage debt are often considered to be “good debt,” as they are forms of debt you take on in order to purchase something that should increase your net worth. “Bad debt,” on the other hand, includes credit card debt, auto loans, and other consumer debt incurred to make purchases that depreciate in value.
Regardless of the classification, debt needs to be paid off at some point. And if you have a little extra money every month, you may ask yourself: Should I accelerate payments on my mortgage or student loans? And, if so, which should I aim to pay off first?
Before my family began the process of having our home built, I learned that we should expect to go at least 10% to 20% percent over the estimated budget. While I didn’t believe it at the time, it is safe to say that I learned the truth that building a new home costs more than you think it will. 
Building your own house can be a wonderful and fun experience – but it can also be a long and expensive process. However, most people cannot afford to pay for the cost of home construction up front, and getting a mortgage can be tricky. After all, you’re asking a bank or a mortgage lender to give you money for something that doesn’t even exist yet.
Owning a home has long been considered to be part of the American Dream, but as the huge tidal wave of foreclosures has taught us in recent years, it can also be a major disaster if you buy a house you cannot afford – or if you buy a home before you are ready for home ownership.