Have you considered how debt works? Let’s take a quick look at the difference between good debt and bad debt. Good debt is defined as a purchase that will grow in value. For example, getting a student loan to obtain a college education can increase your value as an employee, allowing you to earn more money at your job. Bad debt comes from spending money on things that lose their value rather quickly. For example, you buy an expensive piece of clothing with your credit card and pay the minimum on your balance for the next few years. Both types of debt can affect your credit score. What are some other examples of good debt versus bad debt? ~Moderator Mel
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