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September 9, 2019

'Good' or ‘bad' debt? It depends

  • What makes it good or bad is how it fits into your overall financial picture.
    • By SEAN PYLES
    NerdWallet

    Are student loans good debt that can open the door to a career or an insurmountable burden? Is all credit card debt a sign of reckless spending, or can it be a smart way to cover an expense? In general, no form of debt is inherently “good” or “bad.” What makes it good or bad is how it fits into your overall financial picture.

    Good debt is manageable within your budget and can help you achieve your goals. On the flip side, bad debt is unaffordable and can overwhelm your finances.


     
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