Chances are by now you've heard the terms "good debt" and "bad debt", but what do they mean to you? In a recently released book, author Talbot Stevens delves deeper into the concepts to show you how to make the most of your financial situation to increase your savings and investment returns. It is widely believed that a mortgage is "good debt", while "bad debt" is defined as high interest credit cards, car loans, and other unsecured credit products. Stevens boils down the definition of bad debt very simply saying, "Anything that doesn't increase your net worth by increasing your income or some asset's value in the future".
The book includes valuable information on different methods of savings, investments and a manoeuvre that helps make the interest on your loans tax deductible.
Click here for the full article from the Globe and Mail.
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