Why Is This Man Smiling? He Knows Something About Debt
Owing money is both deadly and lucrative. How to tell the difference
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Debt can feel like an anchor tied to your feet. Credit cards and payday loans can drown borrowers in interest charges, student loans can ruin graduates’ post-college plans, and underwater mortgages can trap homeowners.
Debt can also be a buoy. A student loan can help workers go back to school and get better jobs. Mortgages can help families build home equity and ultimately, wealth. Even a credit card can come in handy during emergencies. Pulling out the plastic may be the only way for cash-poor workers to repair the cars that get them to work.