mortgage broker: Good Debt Vs Bad Debt. What's The Difference
- 07/14/11 04:38 PM
More and more people are getting swallowed up by debt. I’m sure you’ve read and heard many of the statistics and stories in the news. One of the keys to financial independence is to get rid of your bad debt and acquire good debt. Bad debt is debt that makes you poor, such as credit card debt, car loans, etc. – this is consumer debt. Good debt is debt you acquire that actually works for you. The best example of good debt is a mortgage loan on a rental property that throws off positive cash flow every month. Good debt is … (2 comments)
More and more people are getting swallowed up by debt. I’m sure you’ve read and heard many of the statistics and stories in the news. One of the keys to financial independence is to get rid of your bad debt and acquire good debt. Bad debt is debt that makes you poor, such as credit card debt, car loans, etc. – this is consumer debt.
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