Dear Lifehacker, I keep seeing certain types of debt (mortgages, student loans) referred to as “good” debt, whereas other types (credit card debt, for example) are referred to as “bad” debt. What does that mean? What makes a certain type of debt “good” and another type “bad?” Thanks, Anon
Good question, Anonymous!
This is what individual experts have to say about an issue that affects each person differently – if you want personalised advice, we recommend you see a financial planner.
Good Debt vs Bad Debt
One of the primary differences between “good” and “bad” debt is the interest rate. Credit cards, for example, have high rates compared to other financial products, like some car loans or bank loans. …
Read the full article at: https://www.lifehacker.com.au/2018/08/what-is-good-debt/