Are you new to the U.S. and find the concept of debt confusing? No worries- youre not alone! In America, debt isnt always a bad word. It sounds scary, especially if you come from a culture where cash is king. But debt could help you build a credit score, get a house, or even kickstart a business. If you need more guidance understanding credit, check out Consumer Financial Education: Credit and Credit Reports or check out some of our CalMoneySmart grantees, that specialize in offering support. So, lets dive right in!
Good Debt vs. Not-So-Good Debt
First off, not all debt is created equal. Getting a loan for a house or education is usually considered good debt. Why? Because these things can increase in value or genera…
Read the full article at: https://dfpi.ca.gov/2023/10/20/debt-a-guide-for-new-americans/