Like most Americans, you’ll probably be dealing with some type of debt throughout your life. And by managing debt wisely, you can improve your saving and spending habits and possibly even your ability to invest for the future.

So, consider your borrowing and credit options. For starters, look for a credit card that offers the best interest rate and rewards program.

Next, you might want to think about a home equity loan or home equity line of credit. If you use this loan or credit line for home improvements, your interest may be deductible.

You could also look at securities-based lending, which lets you borrow against the value of your securities in a brokerage account. Many people draw on these loans to purchase more investments, but you can use the money for any purpose. You’ll want to be careful not to borrow too much, though, as you might be forced to replenish your account to bring it up to the required maintenance level.

Subscribe Now: For all the latest local developments, breaking news, and high school and college sports content.

With careful thought and planning, you can make your debt work for you — and not the other way around.

— This content was provided by Edward Jones for use by Rod Pender, Edward Jones financial adviser at 3124 N. Adrian Highway, Suite 100 Adrian, MI 49221.

This article originally appeared on The Daily Telegram: Financial Focus: Look for different ways to borrow and use credit