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Good vs Bad Loan: Understand such differences between good and bad loans, will remain left from debt trap – different

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‘Good debt’ is what you take to invest in a property.

Education loan: means to increase earnings
The loan taken for higher education gives better jobs and income opportunities in the future. It is considered a positive investment.

Business Loan: Investment in future earnings
The loan taken for starting or expanding its own business increases the chances of profit.

Home Loan: Way of Property and Stability
The loan for the house not only gives roofs but also creates a property that can increase with time.

Credit Card Expend: Avoid non-essential shopping
Spending with credit cards on luxury or lifestyle products without planning can implicate it in a debt trap.

Car Loan: Decreation of Decreased Value
If the value of your car falls before repaying the loan, it can give more harm than the benefits.

Take a loan wisely
Not every debt is spoiled- take a loan keeping in mind the need, interest rate, and the capacity of the repayment, only then it will improve your future.

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