Using Debt to Build Wealth: Everything You Need to Know

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Can You Build Wealth With Debt?
Understanding the Different Types of Debt
What Is Good Debt?
What Is Bad Debt?
Is a Personal Loan Debt Considered Bad Debt?
Debt consolidation Buying a laptop computer Remodeling your living room Remodeling your bathroom Financing other home improvement projects
Using Debt to Make Money
Debt Tolerance
Removing Bad Debt
Getting Good Debt
5 Ways You Can Use Personal Loan Debt to Build Wealth
1. Home Improvements
2. House Flipping
3. Start a Business
4. Cash-flow Management
5. Debt Consolidation
The Takeaway
Frequently Asked Questions
Photo credit: iStock/Ridofranz
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About the Author
Sulaiman Abdur-Rahman writes about personal loans, auto loans, student loans, and other personal finance topics for Lantern. He’s the recipient of more than 10 journalism awards and currently serves as a New Jersey Society of Professional Journalists board member. An alumnus of the Philadelphia-based Temple University, Abdur-Rahman is a strong advocate of the First Amendment and freedom of speech.
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