LANSING, Mich. (WLNS) – “Debt” is a scary word, and many people have a hard time getting out of debt.

There are also many different kinds of debt, from home debt, to car debt, furniture debt, student loans and more. Each one can be handled a different way.

One of the most common types of debt is housing debt, said local money expert Stephen Schiestel. This is a more “acceptable” kind of debt.

Schiestel warns of credit cards and the various enticing rewards they bring. Some credit cards offer rewards like airline miles or 1% cash back. While those can sound nice, they can also come with dangerous interest rates, with some being as high as 15-20%.

Using these cards for things like groceries is okay as long as you pay off the balance, but perhaps avoid using them for things like vacations, said Schiestel.

Another type of “acceptable” debt would be student loans as they come with some tax advantages.

For more tips, check out Stephen’s full interview with 6 News reporter Andrew Birkle in the video above.