Your Debt: The Good, the Bad and the Ugly

Flickr/Images_of_Money

Don’t be shy, we know you have debt. Statistics Canada recently revised its numbers on Canadians’ debt levels, revealing that many of us are even deeper in debt than previously thought, owing, on average, $1.63 for every dollar we earn. Yikes!

But before we go all Suze Orman on you about how bad you’ve been, we’d like to make one thing clear: while it’s best to owe nothing at all, not all debt is entirely bad – and sometimes some debt is just plain necessary. Other types of debt, on the other hand, are nothing short of ugly in terms of the effects they can have on your financial future. So how can you tell the difference? I’ll take a look at debt – the good, the bad and the ugly – in my new article on GoldenGirlFinance.ca: http://bit.ly/Vz3F7t

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