While the term "good debt" sounds like an oxymoron, there really is such a thing.
It's basically any debt you have that has a low interest rate and could possible get you a tax deduction.
So some good debt is well...good...to have.
Good debt is anything that leads to a higher payoff later, such as a mortgage on a house that appreciates in value or a student loan that translates into a degree with higher future earnings
Granted, paying off all your debt is a good rule of thumb but if the interest rate on your mortgage is historically low maybe instead of rushing to pay that off, consider putting any extra money you have into your retirement accounts such as 401(k)s and IRAs - or even a 529 college savings accounts for the kids.
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