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Right out of high school for most Americans is brought on by no more high school, no more pesky teachers, no more rules, freedom, college and becoming an adult. And with becoming a legal adult above the age of 18 begins the lovely process of you being bombarded with letters and mailers by credit card companies and student loan companies. This is a great process for the creditors because they can sucker you in by getting your information and then sinking you into thousands of dollars into debt. Favor Home Solutions
But as an adult, you need an established credit score before you can buy a car or buy a house. So how do you balance having a credit score by not going into credit card debt? Here's your answer!
If you're telling yourself, "I need to sell my house fast so I can buy another one," this is the place to be! So here's how you can do it!
Good debt versus bad debt. What is it? Let's start with bad debt. Bad debt is debt that is avoidable and is not the best thing for you to venture into. An example would be credit card debt because you don't need to be in credit card debt, it's easily avoidable.
An example of good debt is a house because you're not expected to be able to pay for a $150,000 house upfront in cash money. You take out a mortgage and that's considered good debt because you're investing into real estate. A car loan is kind of on the border because some people think that they are a good debt and a bad debt. Personally, don't get a car loan if it's avoidable by waiting a year or so.
If you have questions about any of this, contact my blog! I also recommend Favor Home Solutions to help with all of this because they can sell your house fast for cash even if you have a bad or low credit score!