Personal Finance
Making Money Work for You: A Guide to Identifying Good Loans and Avoiding Bad Ones
In the world of personal finance, loans can seem like a maze, but they're not all bad. While debt often gets a bad rap, it can actually be a useful tool if used wisely. It all comes down to whether the loan helps you reach your goals or holds you back. Good debt, like a mortgage for a home, can build wealth over time by increasing property value and offering tax benefits. On the other hand, bad debt, like high-interest credit card debt for unnecessary purchases, can drag you down financially. By understanding the difference and making smart choices, you can use debt to your advantage and build a stronger financial future.
By
Jayant Kamra
March 1, 2024
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