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Summary: A couple of debts would be considered good debt, such as a mortgage on a house, a car and student loans. Make wise investments in the future with help from a business analyst in this free video on financial planning and debt management.
Terry Kuykendall is currently a budget analyst for the military in Washington. She is an accountant who has worked at firms helping people deal with personal and business debt.read more
"There are a couple of debts that would be considered good debt. The first and foremost would be the debt of a mortgage. And mortgage is you're investing in your future. Houses only appreciate in value therefore in the future if you decide to sell, you're going to make money, inevitably you're going to make money. Your standing in society is always looks better when you're a homeowner as well. Student loan is another good debt. You're taking out a debt to go to college to get a degree to get a better job so therefore you're going to make more money. So that makes student loans a good debt. And a vehicle can be a good debt as long as you don't go extravagant, a vehicle is a good debt because it's going to get you to and from that good paying job you're going to get with that student loan. A car debt will make it easier for you to get around. So the three good debts there are out there would be a home mortgage, a student loan and a car payment."