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The Only Time I'll Tell You Personal Debt Is Profitable

personal debt

Personal debt is a dangerous product. We're made to think of our excessive consumerism as patriotic. However, in reality, it's anything but.

Americans owe $11.74 trillion: $882.6 billion of that is credit card debt, $1.13 trillion is student loans, and another $8.14 trillion go to mortgages.

There really is only one instance in which personal debt can be profitable. Here is that one - seriously, only one - exception...