()– Sponsored Content. Debt is a major burden for most adults. CNBC reported that the average American had $38,000 of debt in 2018, excluding mortgages.

Money worries can lead to many problems, including relationship strain, mental health issues, and depression. Credit cards, student loans and auto loans are some of the most popular debts. Mortgages, medical debt, and student loans are also common. It is important to assess your financial situation. Although it might not be easy, it can help you get started on paying off your debts and improve your quality of living.

It is possible to live debt-free. However, it is not ideal.

Good debts can be debts that will increase your net worth or benefit you over the long term.

A great example of this is the mortgage. Your home will eventually be worth more than what you owe as you pay down your mortgage. This is a time when your home can be sold for a profit and your home can be refinanced at a lower rate of interest. This could potentially save you significant money in the long-term.

“Bad debt”Money owed that does not increase your net worth. Bad debt includes credit card debt, new car loans and debt for jewelry.

Many people have bad credit. How can you help someone who is struggling with bad debt?

It is important to stop and take a breath. There are legitimate solutions for your money problems. Although it may seem difficult, it is worth it when your bad debt is gone.

Once you are aware that there are options, it is time to assess your situation.

Family Credit Management, a non-profit credit counseling agency, has many great tools you can use for assessing your situation.

The “How Serious is my Debt” quiz, at www.familycredit.org/how-serious-is-my-debtThis can help you evaluate your situation objectively.

Family Credit Management has certified credit counselors who can analyze the results and help you develop a strategy, even if the debt management program is not right for your situation.

Additional resources are available, including a personal finance course and savings tips. There is also a personal budget outline outline and a book for children that can be used to talk with your children about finances. www.familycredit.org/resources.