Examples Of Good Debt
Education
- Taking out a student loan to pursue higher education can be considered good debt.
- Research shows that individual earns 66% more than those with just a high school diploma over their lifetime.
Home Mortgage
- Buying a house with a mortgage is often seen as good debt. Over time, real estate tends to appreciate in value, meaning your investment can grow and you can even sell it at a profit.
Business Loan
- Starting a business requires capital, and taking a loan to finance it can be seen as good debt.
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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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When To Take On Debt
Debt is a liability unless you use it to finance income-generating assets. Don't take on debt for anything that does not increase in value over time.
Suitable forms of debt include buying real estate as a rental property, investing in your business, or a student loan.
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