The holidays are here, bringing that familiar urge to spend a little extra on the people we love. It’s a good feeling…until the bills...

Not all debt is necessarily bad, particularly when it can help you build wealth. It’s important to know the difference between good debt and bad debt and how to sort the good from the bad. If you buy something that immediately goes down in value, that’s bad debt. Let’s say you buy disposable items or durable goods with a high-interest credit card, and you don’t pay the balance in full when the bill arrives. You’re being charged interest while that item continues to depreciate