Living with bad debt is stressful for thousands of Australians and making ends meet has become a huge challenge and constant struggle.
After all the essential costs such as food, accommodation, clothing and power and then bill payments on top of that, there is often nothing left.
It’s common in this instance for people to resort to using credit cards and so the vicious cycle of debt begins. Unfortunately, when it comes to debt, there is no quick fix.
It’s one thing to get out of debt but it’s a different thing to stay out of debt. But what is “bad” debt and what is “good” debt?
“Bad” debt is consumer debt where there is no capital growth. An example of bad debt is if you use a credit card pay for a holiday – there is no investment value. On the other hand, “good” debt is a debt that ultimately delivers capital growth and the best… Read the rest
