Good debt vs. bad debt
It should come as no surprise to you that Canada - North America, really - is awash in personal debt.
The amount of personal debt in this country is ever-increasing and a large part of the reason is that credit has never been easier to get. Whereas credit-card issuers previously looked for customers who could repay, today card issuers relish the chance to reel in those who'll continuously charge beyond their means at 18% or 20% interest rates.
But debt is a complex concept. Not all of it is good -- a fact a surprising number of people fail to realize until they're in the hole -- and yet not all of it is bad.
When used intelligently, debt can be of tremendous assistance in building wealth.
The amount of personal debt in this country is ever-increasing and a large part of the reason is that credit has never been easier to get. Whereas credit-card issuers previously looked for customers who could repay, today card issuers relish the chance to reel in those who'll continuously charge beyond their means at 18% or 20% interest rates.
But debt is a complex concept. Not all of it is good -- a fact a surprising number of people fail to realize until they're in the hole -- and yet not all of it is bad.
When used intelligently, debt can be of tremendous assistance in building wealth.
Read more at: Good debt vs. bad debt
Labels: Consolidate Credit Card Debt, Credit Card Debt Consolidation
posted by e-borneo.com @ 5:10 PM
0 Comments:
Post a Comment
<< Home