Facts And Falsities About Fixing Your Credit
- By
Julia Austin
Source: Muslianshah Masrie / Getty
What is good debt?
“Getting an education with student loans” is something Humphrey considers good debt. Admittedly, not everyone sees that as good debt and there are concerns about whether or not someone will turn that education into a profit. “I know the economy is in trillions of dollars of debt with student loans,” she says, “but that is one that is good. It gave you something. But it’s a catch 22. You need to monitor what you’re getting. Same with homeownership. Everyone wants to own something. Homeownership is good debt as you can ultimately gain equity. Choose things you can leverage or benefit from.”
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