Facts And Falsities About Fixing Your Credit
- By
Julia Austin
Source: Rapeepong Puttakumwong / Getty
Good vs bad debt
You may have heard of good versus bad debt. Maybe the term surprised you because, we ultimately associate the word “debt” with negative things, like lacking or owing. The word debt can come with shame and associations of not being able to afford something. However, that’s not what debt is always about. When you can borrow money that you turn into more money, you are moving into the direction of good debt. Naturally, you’ll want to consult an expert in the specific area (like a restaurateur if taking out money to open a restaurant), but that’s the overall nature of good debt: it will help you earn more than you borrowed.
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