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Credit Basics

Maybe it's time we Americans stopped feeeling guilty about debt.

Good debt can let you grow assets and may pay dividends later. Just set the boundaries.

Give yourself some credit. Keep unsecured credit card debt to no more than 10 percent of take-home pay and mortgage debt to 25-30 percent tops, warns Howard Dvorkin of Consolidated Credit Counseling Services. Consider whether you should put extra money into paying off your mortgage or into more liquid investments.