The Flourish Financially Challenge
weekly challenges and resources to help you flourish!
4 months ago

Episode 29: Good Debt & Bad Debt

The vast majority of us will have debt at some point in our lives, and this isn’t necessarily a bad thing because debt can be either “good debt” or “bad debt.”

Most Americans will have debt at some point, but this isn’t necessarily a financial failure. That’s because there is a distinction between “good debt” and “bad debt.” As a general rule, good debt facilitates a goal, such as buying a home. Bad debt, on the other hand, is debt that includes a high interest rate and doesn’t necessarily support a life goal, such as credit card debt. This week’s challenge is for those struggling with bad debt because, with discipline, it’s possible to find yourself free from bad debt and financially healthier.

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