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What is Smart Borrowing
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[QUOTE="Mika, post: 332549, member: 29399"] Debt can be bad debt or good debt. If you use debt to generate income, your debt can be good debt, for instance, if you bought a house that saves you money on rent as well as earn you rental income, it is good debt. Be cautious about borrowing for non-productive purposes, as it can lead to bad debt. For instance, if you borrowed to buy a car, it is bad debt. Smart borrowing is when you borrow for investments or starting a business that can yield profits, enabling you to repay the loan and make gains at the same time. Borrow smartly by using loans to contribute positively to your financial well-being. [/QUOTE]
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