Do you know the difference between 'good debt' and 'bad debt?' Here's a generalization.
Bad debt is debt acquired buying something you should have bought for cash had you only had the cash. That's virtually every purchase on your credit cards, your car, the washer and dryer, and 'the toys': hot tub, boat, motorbike, satellite dish, computer, plasma TV, etc, etc. All this stuff, if bought on credit, is costing you a fortune in interest charges, while the stuff you bought is rapidly depreciating. So that's bad debt.
Now good debt is an RRSP loan (you get savings for retirement and a tax break), a student loan or business loan (because these are helping you improve your life), a mortgage to buy your house (a form of saving), borrowing money to invest like a GIC.
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