Finding Your Way
What you will learn from this chapter:
- What is debt?
- What is good debt? What is bad debt?
- Start a budget to manage debts
- Advice on how to pay off bad debts
Learn to stay away from bad debt
If you are struggling to pay off the money you borrowed, you may be in bad debt. This can result in your inability to achieve your goals.
Let this chapter teach you about debt, the differences between good and bad debts, and the right steps to help you create a plan to pay them off.
Debts come with interest. They tend to be higher than interest you earn in a savings account. So, prolonging your debts decreases your ability to save and invest. The sooner you can pay debts, the faster you can get back on track.
Practical ways that can help you avoid bad debts
With the right mindset and information about your financial health, you can avoid getting into bad debts, and help you get back on a growth track.
Download the e-book to read more about debts
This edition contains Chapters 1 to 6.
More chapters will be released in the coming months.