A mortgage is much more than just a big, scary debt you have to pay to enjoy homeownership.
It’s an opportunity, thanks to today’s record-low interest rates, to get ahead financially, whether through building wealth or better managing your other debts.
First, understand the difference between good and bad debt.
Put simply, good debt is any debt that can increase your wealth or deliver you personal value. Bad debt is the stuff that’s used to buy things that lose value, such as credit cards, car loans and buy now, pay later schemes.
Some types of debt are worthwhile adding to your mortgage, especially with the low cost of borrowing.
Here are four examples.
INVESTMENT LOANS
Most people need money to make money
and investment debt is usu…
Read the full article at: https://www.sunshinecoastdaily.com.au/news/good-debts-you-can-add-to-your-mortgage/4279953/
