00:03debt is often labeled either good or bad good debt helps you move forward in your financial
00:09career while bad that holds you back one example of good debt is when you owe money for something
00:16that will go up in value like a mortgage student loans can also be considered good debt because a
00:22higher education can boost your lifetime earning potential in most cases according to debt.org
00:29credit card debt is thought to be a bad form of debt because of high interest rates and balances
00:35that easily increase you can use credit cards with no interest promotions to make large purchases
00:42or put a big expense on a card and use a balance transfer opportunity nerd wallet suggests you pay
00:50off the balance before interest kicks in borrowing against the value of your home in the form of a
00:56home equity loan or home equity line of credit can be a good option for home renovations or to pay
01:03for an emergency expense
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