Good vs. Bad Debt
All debt is not bad.
(click on the bold-faced vocab words:))
Owing anything to anyone can bring out the scaredy cat in me. Responsibility! Commitment!
Extra ew when interest payments are involved.
For me, the reason why is critical to good decision making.
I will use this loan to fund…
- my master’s degree, to land my dream job.
- my home, to have a safe place for the rug-rats to play.
- my car, to make my commute easier.
- my peep-toe platforms, to win over that trust fund baby. He likes toe cleavage.
Will the loan realistically create an opportunity to add to my $$ once I’ve paid off the principal plus interest?
I decide what’s good debt or bad!
(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)