What is the Difference between Good Debt and Bad Debt?
You may have heard there’s good debt and bad debt. So what is the difference?
Good debt helps you earn money, increase your future income or improve your net worth. For example, a loan to fund a certification course can result in higher earnings. A mortgage allows you to benefit from the appreciation in home prices.
But there’s also bad debt.
Bad debt includes any debt taken on when you buy something without lasting value, or that doesn’t help you improve your income or net worth. Credit cards due to shopping bills, or personal loans that fund holidays. So if bad debt is so bad, how can a person get rid of it?
Get Rid of Bad Debt
Once you have your plan, it’s a good habit to do a debt check every few months to stay on track. As bad debt goes down, you’ll be building a much higher level of financial confidence!
<p>Microfinance is the provision of financial services such as loans, savings, insurance and training to people living in poverty. It is one of the great success stories in the developing world in the last 30 years and is widely recognised as a just and sustainable solution in alleviating global poverty.</p><p><iframe src="//www.youtube.com/embed/b5XIZD8kxWE" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
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