In short, most people don’t like debt but see it as a necessity, for example mortgages, car loans etc. The truth is that if you hold debt for personal consumption then it’s going to take money out of your pocket and should be considered bad.
If on the other hand you have an asset (for example maybe a property) and that asset has a mortgage owned by you but at the end of the day you receive more money than you pay then that mortgage should be considered as good debt.
Hint, if the bank’s fronting up the money then you don’t have to.
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