Understanding Debt: Types, Implications, and Strategies for Financial Well-Being Debt is a concept that touches the lives of virtually every individual and organization on the planet. It’s an essential financial tool, but it can also be a double-edged sword. When used wisely, debt can help you achieve your goals and improve your financial well-being. However, mismanaged debt can lead to financial stress and long-term consequences. In this article, we’ll explore the various types of debt, its implications, and strategies for managing it effectively. Types of Debt 1. Consumer Debt Consumer…
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