Borrowing is an important part of a long-term financial plan, whether it's for an education or a place to call home. But taking on debt comes at a cost. Total consumer debt in the U.S. hit a record ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Katrina Ávila Munichiello is an experienced editor, writer, fact-checker, and proofreader ...