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Good Debt and Bad Debt: What’s the Difference?

Good Debt and Bad Debt: What’s the Difference?

For some individuals, the idea of debt goes hand-in-hand with the idea of adulthood, as if you can’t have one without the other. However, understanding what debt is and the difference between good debt and bad debt may change your outlook on how to handle it. What is Debt? Before you can understand the nuances of debt, you have to understand debt itself. At its simplest, debt is money borrowed by one individual or party that is owed to another individual or party. Typically, debt is paid back on a fixed schedule of payments over a set period of time...