Debt is a word that often brings about negative connotations, but not all debts are created equal. Understanding the difference between them can help you make smarter financial decisions.
Obviously, debt means owing money—especially money that needs to be paid back with interest. Good debt helps you reach your goals, while bad debt can hinder your financial progress.
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Debt can be your best friend or it can be your worst nightmare depending upon how you use it.
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