Debt
- Borrowed money that needs to be paid back with interest. Managing debt wisely is crucial; good debt (like a mortgage) can build assets, while bad debt (like high-interest credit card debt) can drain finances
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Supply: How much of a product or service is available to buy. Demand: How much of that product or service people want to buy. When supply is high but demand is low, prices go down. When demand is high but supply is low, prices go up
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Similar ideas to Debt
Time Debt
The choices we make to ‘borrow’ our personal time to get work done works against us in the long run, just like the money borrowed from a credit card has to be paid back with interest in the future. This means more work or expenditure of resources in the future to get things back on track.
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Credit Card Debt
The trickiest form of debt, which is literally bleeding our finances, is the credit card debt. Make sure you know what the interest rate being charged is. Know that a 2% interest rate per month is actually 24% per annum.
If you stay out of debt by paying the total due on t...
Borrow Wisely
Warren Buffett advises against excessive borrowing, such as credit card debt or unnecessary loans.
Some experts divide borrowing money into "good debt" and "bad debt."
- Good debt is investing in your long-term future, such as a mortgage or student loan. Ideall...
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