Debt #3

Everyone has heard of “good” debt and “bad” debt. Despite what lenders try to sell you, there is no good debt. Good debt is usually viewed as a mortgage on a house, a car loan or lease – a debt created to obtain something you otherwise couldn’t afford. I hope you noticed the “otherwise couldn’t afford” part! Still, most people don’t have the available cash to buy a house or car outright and debt may be necessary. Not good or bad, but necessary.