In this video, Jane Barratt shares information about loans, interest rates, and terms. Learn about good debt—debt that is manageable and predictable and has low-interest rates. Additionally, learn about bad debt—debt that has an unpredictable future cost and takes a considerable portion of your income.
- The thing about loans is this:…if you need to borrow money,…you generally will find a way.…Obtaining a loan can be easy,…but paying it back, is not.…Borrowing money has become the default way…to pay for the big things in life,…like education and housing,…but for many people,…it's also the default way to pay for things…that they can't afford right now.…And buying things that way,…means that they will cost you more in the future,…sometimes a lot more.…Let's consider the many types of loans.…
They include student loans, mortgages, car loans,…home equity loans, credit cards,…yes, they are considered loans,…cash advances, and payday loans.…The most important thing to know…is that interest rates and terms matter enormously,…and they vary a great deal depending on the loan.…Let's talk about this in terms of good debt…and not so good debt.…Let's start with good debt.…Good debt is debt that is manageable, predictable,…and buys you something of value.…That means interest rates are low,…terms are long, and rates don't fluctuate drastically.…
Skill Level Appropriate for all
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Ride financial ups and downs2m 23s
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