Carrie Schwab-Pomerantz discusses good debt versus bad debt and some of the common mistakes people make with borrowing.
In today’s world virtually everyone participates in the economy as either a borrower or a lender, and most people are both. If you’ve ever put money in a bank, then you’re a lender. If you’ve ever used a credit card, then you’re a borrower. In this episode, Mark Riepe talks with Carrie Schwab-Pomerantz about the liability side of your personal balance sheet—debt. Of course, not all debts are the same.Among the topics Mark and Carrie discuss are “good” debt versus “bad” debt, paying off debt before you retire, and a handy rule of thumb for managing your personal debt level.
You can read more about the exponential growth bias and personal finance in this study.
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