Not all debt is terrible. Yet, when it comes to good debt vs. bad debt, the bad debt is the kind that’s crippling U.S. consumers with an average of $8,398 per household.
Good debt is anything that’s a clear investment in your future, and something you know you’ll be able to pay back or profit from. Some examples of good debt include student loans and real estate investments.
If you’re suffering from bad debt, it’s usually from credit cards or risky loans. Using credit or loans to pay for non-essential expenses adds up quickly and can end up limiting your …Read More