For many Canadians, debt is a prevalent component of personal
finance, which is why being able to discern the distinction between bad
debt and good debt is vital for making well-informed financial choices –
after all, even though debt is often linked to its consequences, not
all debt is identical. Recognizing the disparities between bad debt and good debt can
illuminate their effects on your financial well-being, enabling you to
enhance your financial standing and elevate your credit score.
Furthermore, it can empower you to make the best decisions when it comes
to your finances and your future.
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