{"id":2807,"date":"2019-03-11T06:16:16","date_gmt":"2019-03-11T11:16:16","guid":{"rendered":"http:\/\/payment1.flywheelsites.com\/?p=2807"},"modified":"2026-06-23T02:13:28","modified_gmt":"2026-06-23T02:13:28","slug":"good-debt-bad-debt-learning-the-difference","status":"publish","type":"post","link":"https:\/\/payment1.com\/es\/2019\/03\/good-debt-bad-debt-learning-the-difference\/","title":{"rendered":"Good Debt, Bad Debt: Learning the Difference"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Sometimes, no matter how well you plan, things unexpected things happen and they get out of your control, fast. Some of these situations often leave us needing financial help. Most people will take out a small <a href=\"https:\/\/payment1.com\/es\/2019\/02\/18\/the-most-common-loan-types\/\">loan<\/a> or take on some other forms of debt as it is one of the easiest solutions to any financial trouble. What most people do not know is that there are two types of debt: good debt and bad debt. What is the difference between the two? Let\u2019s explore.<\/span><\/p>\n<p><b>Good debt<\/b><span style=\"font-weight: 400;\"> is debt that will help you make an <a href=\"https:\/\/payment1.com\/es\/2019\/03\/15\/can-you-use-debt-to-build-wealth\/\">investment<\/a> whose value will grow over time without burdening you with high interest. If you are asking how debt could be an investment, take into consideration the following examples:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/payment1.com\/es\/2019\/03\/21\/millennials-and-personal-loans-whats-the-real-score\/\"><b>Student loans<\/b><\/a><span style=\"font-weight: 400;\">. These loans enable you to get a college education and your education actually increases your value as an employee. And depending on the course of your employment, education also increases your potential income.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Another example is your <\/span><b>home mortgage<\/b><span style=\"font-weight: 400;\">. Everyone needs somewhere to live. What better thing to invest in than your own home? In an ideal world, the value of your house should increase over time and would cancel out the interest your mortgage loan incurs.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Small business loans <\/b><span style=\"font-weight: 400;\">is another good example of good debt. Taking out a loan that you can use to start or expand your business will help you increase your income and therefore can be one of the best investments you could make. This is, of course, contingent on your business savvy and sound decision making.<\/span><\/li>\n<\/ul>\n<p><b>Bad debt<\/b><span style=\"font-weight: 400;\"> is a debt incurred by buying things whole value and diminishes over a short amount of time. These are debts that also have high-interest rates.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A good example is <\/span><b>deuda de tarjeta de cr\u00e9dito<\/b><span style=\"font-weight: 400;\">. If you cannot pay your credit card balance in full every month, chances are something that cost you 50$ would end up costing you $60 because of interest. It is always a good idea to not leave a balance on your credit card. You will end up paying more than the actual value of the things you bought.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Another bad debt is <\/span><b>payday loans<\/b><span style=\"font-weight: 400;\">. These are short term loans that are quick and easy to apply for. However, the interest rates on these loans are ludicrous. Interest rates for payday loans could reach up to 400% of the loan amount.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Car debt <\/b><span style=\"font-weight: 400;\">is also an example of bad debt. A car\u2019s value will decrease over time, unless it is a collectible (which will probably cost an arm and a leg). Paying an exorbitant amount for a new car which will decrease in value is not a sound investment.<\/span><\/li>\n<\/ul>\n<p><b>What should you do to avoid bad debt?<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Don\u2019t leave a balance on your credit card. Make sure you pay on time to avoid any unnecessary penalties. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Instead of a payday loan, take out a small personal loan from a reputable bank. Make sure that the loan you take out has a low-interest rate and is something that you can pay off fairly quickly. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you can pay cash for a second-hand car, consider that instead of getting a brand new one if it means paying in installments. <\/span><\/li>\n<\/ol>","protected":false},"excerpt":{"rendered":"<p>Sometimes, no matter how well you plan, things unexpected things happen and they get out of your control, fast. Some of these situations often leave us needing financial help. Most people will take out a small loan or take on some other forms of debt as it is one of the easiest solutions to any [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28,38],"tags":[106,109,113],"class_list":["post-2807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-promotions","tag-credit-building","tag-debt-consolidation","tag-financial-education"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Good Debt, Bad Debt: Learning the Difference - Payment 1<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/payment1.com\/es\/2019\/03\/good-debt-bad-debt-learning-the-difference\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Good Debt, Bad Debt: Learning the Difference - Payment 1\" \/>\n<meta property=\"og:description\" content=\"Sometimes, no matter how well you plan, things unexpected things happen and they get out of your control, fast. 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