Figuring out which debts are good can help you farther down the road. Making your payments on any debt gives you a good credit rating. This can allow you to find better jobs and borrow money at lower interest rates. Be sure to get something that you need rather than what you want or at least make sure you can afford it before you go and charge something on your card. Credit card debt is probably the worst kind of bad debt since the interest rate is so high. If you do end up with some bad credit, as most of us have, be sure to pay off the cards that have the highest interest rate first and go down from there
October 30, 2009
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