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“Is all debt bad? The short answer is no.” Financial expert Ross Mack sat down with a college student to discuss the difference between good and bad debt:
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Wait, not all debt is bad?!

In this episode The Finance Couch, we meet Trey, a junior from Las Vegas, who is seeking advice on managing finances with his girlfriend as they plan their future together. Ross Mack breaks down the complexities of debt, explaining the difference between good debt and bad debt.

According to Ross, good debt includes borrowing money to invest in a business or buy a home, while bad debt involves high-interest credit card loans for non-essential items. Once you get behind on things like monthly credit card payments, the compounding interest adds up, making it even harder for you to escape the debt cycle.

These practical tips should help you get a good start on your borrowing journey, and can make you feel more confident as you navigate the world of debt. Still have questions? Let us know in the comments below!

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