I don’t believe in “good and bad debt”. Debt is debt is debt is debt. Whether it’s out of necessity or due to a sudden lost of sanity, borrowed money is a liability that needs to be paid back.
The granddaddy of “good debt” is, of course, a mortgage. Most home buyers couldn’t buy a house without one, so it made sense to justify it by shedding a good light in this type of borrowing. Unfortunately, so many people take it the wrong way and end up buying a house that’s unaffordable. Debt is debt is debt is debt no matter how you look at it. Remember it on your road to financial independence.
Personal Finance Article
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- Want to profit in the stock market? Perhaps a read through several practical advise for the stock investor is in order for you this weekend!
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Related Articles at Personal Finance Blog by Money Ning:
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Read more of Good Debt and Bad Debt…
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