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Good debt bad debt
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[QUOTE="Mellorando, post: 205749, member: 37973"] Good debt has the potential to increase your net worth or enhance your life in an important way. Bad debt involves borrowing money to purchase rapidly depreciating assets or only for the purpose of consumption. How to deal with good debt. Even good debt can become bad debt if you don't keep how much you borrow under control. Always have a plan for paying off debt eventually (even good debt) and try to pay off the more expensive forms of good debt before the cheaper good debt. Examples of good debt are taking out a mortgage, buying things that save you time and money, buying essential items, investing in yourself by borrowing for more education or to consolidate debt. Each may put you in a hole initially, but you'll be better off in the long run for having borrowed the money. [/QUOTE]
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