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Having debt can be a good thing. It all depends on where you have invested the borrowed money. While other people may advocate for not having debt at all. I am of the opinion that debt well utilised can be good “leverage”. Good debt can be defined as an investment that will grow in value or generate long term income. Good debt can be considered to be low interest debt. An example of good debt is taking out a student loan to pay for your education. A college education increases your value as an employee and raises your potential future income. A student loan carries a low interest rate when compared to other forms of debt. For this reason, because it’s cheaper debt it is good debt.

Taking out a mortgage loan is considered good debt. A mortgage loan generally carries low interest rate and matures in 30 years. In an ideal market, the value of the property should increase to cancel out the interest that you have paid over time.

Many people are consolidating their smaller debts using the equity value of their home. While it may seem smart to consolidate other small debts under a lower interest home equity loan, one must carefully consider whether or not you can really make the repayments. In the situation that one fails to make the repayments, they could end up losing their home.

A motor vehicle loan can be considered good debt when the vehicle is essential to doing business. The future income stream from the business could cancel the principal loan and interest payments on the motor vehicle loan.

If you live in Benoni and you are experiencing debt problems debt counselling services from Debt Sage could be what you need to improve your daily cash flow needs. Debt Sage is a leading debt counselling firm with many years of experience in the debt counselling industry.

Contact Debt Sage, the debt counselling experts today. We will together review your case and see how we can help you. We offer free financial advice and health checks so that one can make the right financial decision. We are able to help you consolidate your debts into one easy monthly payment that will simplify your financial life.

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