FINANCIAL LITERACY LESSONS: “GOOD” DEBT VS “BAD” DEBT

WHAT IS DEBT?

The money you owe another person or a business.

“GOOD” DEBT

Money owed for things that can help build wealth or increase income over time.

Example: student loans, mortgages, business loans

“BAD” DEBT

Money borrowed to purchase a depreciating asset

Example: cars, high interest credit cards

Book Recommendation:

One thought on “FINANCIAL LITERACY LESSONS: “GOOD” DEBT VS “BAD” DEBT”

Hey, so short and poverful

Enter your comment here...

Fill in your details below or click an icon to log in:

Email (required) (Address never made public)

Name (required)

Website

You are commenting using your WordPress.com account. ( Log Out / Change )

You are commenting using your Facebook account. ( Log Out / Change )

Connecting to %s

One thought on “FINANCIAL LITERACY LESSONS: “GOOD” DEBT VS “BAD” DEBT”