There are a lot of negative ties to the word “debt” but not all debt is the same. If you’re not sure what kind of debt you have, ask yourself whether your debt is going to improve you life in any significant way.
Bad Debt
- Credit card debt
- Car Loans
- Personal Loans
Bad debt exist and are used to pay for things that lose value overtime. Any consumer debt are things you want to pay off as soon ass possible because they are not contributing to your income in the short or long term.
Good Debt
- Student Loan
- Small Business Expenses
- Mortgage & Real Estate Investments
Good debt adds value to your life- by taking on these debts you are investing in a venture for yourself because it will increase your net worth in the future.
Start your journey in investing and acquiring good debt. Contact us here to learn how we can make it happen.
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