What Is Good Debt Vs. Bad Debt?
September 3, 2021
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1:02Now PlayingWhat Is Good Debt Vs. Bad Debt?
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as posted by the channelCan debt be good? Check out the video to find out!
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
There are polar opposite opinions on debt. Some believe that debt is the worst thing possible and should be avoided at all costs. Some billionaires and small business owners believe that debt can be good and is essential. Both are right.
Debt can be dangerous if you’re using it the wrong way. But it can be good if you use it to increase your net worth and build wealth.
Taking out loans can help real estate investors, small business owners and even some college students. Typically, the assets you use these loans on can build your income and overall net worth.
Credit cards are also good if you pay off your balance at the end of the month. They build your credit score and offer unique rewards you can take advantage of. However, high interest credit cards can be dangerous. This can bring us to bad debt when we borrow or purchase depreciating assets like cars, clothes or other consumer items.
Did you know there was such a thing as good debt? Let us know in the comments below!
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