In partnership with
Let’s clear something up:
Debt isn’t automatically evil.
Yeah, we’ve all heard the horror stories — credit card traps, student loans, endless payments… 😬
But the truth? Some debt can actually build your wealth.
Here’s the real breakdown 👇
💰 Good Debt = helps you grow
Good debt is an investment in your future — it gives you something of lasting value.
Examples:
A mortgage (if it builds equity or replaces rent)
Student loans (if they raise your earning potential)
Business loans (used smartly to increase income)
The key is: it should either make you money or help you build long-term stability.
💸 Bad Debt = drains your future
Bad debt doesn’t give you value — it just costs you interest.
Examples:
High-interest credit cards
Payday loans
Financing stuff that loses value fast (like new gadgets or clothes)
Bad debt grows quietly in the background — until it’s suddenly loud. 😅
🧠 The rule of thumb
If it appreciates (goes up in value) → usually good debt.
If it depreciates (loses value) → usually bad debt.
So this week’s challenge:
Look at your debts and sort them into “good” vs. “bad.”
Make a plan to pay off the bad ones first.
Start investing right from your phone
Jumping into the stock market might seem intimidating with all its ups and downs, but it’s actually easier than you think. Today’s online brokerages make it simple to buy and trade stocks, ETFs, and options right from your phone or laptop. Many even connect you with experts who can guide you along the way, so you don’t have to figure it all out alone. Get started by opening an account from Money’s list of the Best Online Stock Brokers and start investing with confidence today.