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Question

- What is the conventional wisdom when it comes to what good debt is vs. bad debt?

Answer 1

Good debt has the potential to increase your net worth or enhance your life in an important way. Bad debt involves borrowing money to purchase rapidly depreciating assets or only for the purpose of consumption.

Answer 2

good debt is for buying assets : things that will be worth more in the future

bad debt is for buying liabilities : things that will be worth less in the future