Good Debt vs. Bad Debt. Yes, good and bad debt both exist because it’s just about impossible to live debt-free. Good debt is the kind that helps you build credit and achieve a good credit score, which includes debt you gain when you buy a house, finance a car or borrow loans to pay for college. Bad debt is all the extra unnecessary stuff that builds up from using credit cards to pay off that huge shopping spree you might not have had the money for.
Fast Facts: Debt
Friday, August 12, 2011