Having debt is widely viewed as something negative, but taking out a specific type of loan could actually help you become significantly better off.
People often aspire to be ‘debt free’ and make this a primary financial goal. There are good reasons for this in many cases, and it will be a wise move for a lot of people.
Outside of a mortgage, which is an essential part of buying a home for the vast majority, spending money on paying interest is not a good way to improve your financial standing.
There is a crucial distinction that must drawn between two very different types of debt though.
One is debt that exists because you do not have the money to pay it off immediately – but the other is debt you choose to have because it offers…