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Good Debt Bad Debt By Joli De Royal of The Rich Babe Good Debt Good debt involves someone else paying off the debt for you. An excellent example of good debt is a real estate investment loan in which a tenant pays rental income in excess of the mortgage and related expenses. An SBA (Small Business Administration) loan that allows your business to grow is another example of good debt (so long as your business can pay it off). The best loans are nonrecourse loans, which require no personal guarantees. Good debt leads to wealth. Bad Debt Bad debt is something you pay off yourself. Credit cards, car loans, consumer loans, and home mortgages are examples of bad debt. Some bad debt is better than other bad debt. For example, buying a personal residence is in most cases better than buying a car on credit. And while I am not saying that you shouldn’t buy a personal residence on credit, you must remember that a home mortgage is a bad debt because you yourself must pay it off. Bad debt takes money from your pocket, making you poorer and poorer. This intel first appeared on: http://www.therichbabe.com/blog/2008/10/12/good-debt-bad-debt/

Contributed by richbabe on December 8, 2008, at 11:17 AM UTC.

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I Bet you never made any money from ONLINE POKER Learn the real secrets making money from online poker.Home Page I Bet you never made any money from ONLINE www.therichbabe.com

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