Advice Every Shopper Needs to Hear And How to Tackle Debt

Advice Every Shopper Needs to Hear And How to Tackle Debt


A lot of us are probably guilty of going
shopping. There’s a good special. You put it on the credit card. Maybe you open a new credit card Because you’re going to save an extra 25%! And then the bill comes… You forget that you opened that new credit card… And the bill just sits there… And you open the bill two months later… Ooh. That dress that was
five hundred dollars on sale… Not five hundred dollars anymore. That’s bad debt. Bad debt is high interest rate debt. Double digits is a good rule of thumb of expensive debt. But also debt that is not helping you buy something towards your long term future. So what is good debt? Good debt is generally less expensive debt. Lower interest rates. Also debt that helps you move towards
your financial future So mortgages are often times an example of good debt. Mortgages are helping buy an asset – A home. Generally they tend to have lower
interest rates versus other kinds of debt. It can be a great way to achieving
a long term dream. So balancing where you are today Knowing what you are paying for your debt, So that you can make the good
decision on where you go next. When you have that extra dollar, You can take
that extra dollar and say, “Hey, I’m gonna put it towards my student loan debt.” Because for every dollar extra I put to my student loans,
I’m saving 13%. and I can’t earn 13% with my
investment portfolio.

About the Author: Garret Beatty

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