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Not all borrowing is bad—some financial tools can work in your favor. Understanding these key terms can help you make smarter money moves and avoid costly mistakes.
Debt can be confusing, especially since there are many different ways to classify it. You’ve likely heard terms like secured vs. unsecured debt and revolving vs. installment loans, but what do they really mean for your finances? Understanding these categories can help you borrow smarter, manage payments more effectively, and avoid financial pitfalls. Let’s break down the major debt…
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