Everyone needs a debt long or short term, but there is always bad and good debt. That’s why toy need to control your debts to enrich your finances.For instance borrowing for a home or college fees is a good but borrowing for luxuries or things that are consumed faster, say foods is a bad. Think of borrowing for a wedding ceremony!Let’s look at what we need to do with our debts.Make sure you avoid borrowing to buy fast foods, simple luxuries; these are actually consuming much of your finances in the long run. And most importantly, avoid fines, interests on what you borrow, make sure you always save cash to buy these items.When acquire a loan avoid embarking on a shopping spree; have a budget. I remember one man who had a list of ten creditors, when one came to ask for money, he pulled out the list and said see here you are number five and as you see the ones above you, I owe them a lot of money. Does this sound funny? Many debts come as a result of emergencies, try to create and emergency fund. The fund should be separate from your monthly savings, and if one month you don’t get any emergency, keep it and add more, it will help you in future.A point to note in controlling your debts is avoiding financing a debt with another. Avoid borrowing to pay off another debt for it will create a sequence that will never allow you to be financially independent. Also schedule how you receive and pay your debts, don’t pick more debts when you still have many pending no matter the need for it.But most importantly, avoid by all means borrowing if possible if