WHAT IS DEBT?
The money you owe another person or a business.
Money owed for things that can help build wealth or increase income over time.
Example: student loans, mortgages, business loans
Money borrowed to purchase a depreciating asset
Example: cars, high interest credit cards
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel
One thought on “FINANCIAL LITERACY LESSONS: “GOOD” DEBT VS “BAD” DEBT”
Hey, so short and poverful
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