Financially Frugal in Tough Times – Tip 2

October 20, 2011 § Leave a comment

Second, manage your debt. It is generally said that there are two kinds of debt: bad debt and good debt. “Good” debt involves borrowing for an expenditure that will increase its worth over time. This includes school and business loans and a home mortgage. Bad debt is high-interest and revolving credit, borrowing on items that are disposable and also paying too much interest for the purchase.

 

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