When we label something "good" we limit our ability to assess it critically and determine if it's right for us.
- Though we all know we're supposed to avoid…going into debt, there are situations…when debt actually makes financial sense.…So-called good debt is a loan…or other type of credit product…where the asset that you're buying…actually gains in value.…Common examples of good debt are mortgages or student loans.…Since most of us can't afford to buy a property…for all cash, a mortgage allows us to purchase…a place to live that will hopefully sell…for more than we bought it for,…creating wealth in the form of equity.…A college education, even when financed with student loans,…usually affords the borrower…a chance to earn far more over the course of their career…than they would have been able to…with a high school diploma.…
Of course, appreciation and increased earnings…aren't guaranteed, so even good debt carries risk.…Your house may actually depreciate,…or you may struggle to find well-compensating work…in your field.…Here's how we can be smart about leveraging good debt…to actually create more value in our lives.…First, think long term…
Skill Level Intermediate
Financial Wellness for Couples and Familieswith Amanda Clayman1h 7m Intermediate
Personal Finance Tips and Trickswith Jane Barratt2h 58m Intermediate
Your Money Management
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