It's easy to get caught up in how bad debt can be. However, debt can also be beneficial in certain circumstances, despite the risk involved.
Any type of debt that provides value to the person taking on the debt is known as good debt. Good debt has the potential to enhance your life significantly.
Good debt helps you generate income and build your net worth. When thinking of taking on debt, thoroughly consider whether it can pay you back more than what you put in.
Generally, loans to buy a house, afford a college education, or establish a business are expected to deliver a positive return.
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