Offer your thoughts or opinion on the input financial query or topic using your financial background.

What is the difference between “good debt” vs. “bad debt”?
In general, all forms of debt are bad, as they keep you tied to a financial institution and can be an emotional burden for many. In the book Payback (by Margaret Atwood), debt is even described as a sin. However some forms of debt are necessary and some can help create wealth. "Good" debt: a mortgage - to purchase a home, which is an asset that usually appreciates in value.  Necessary debt: car loan or lease - only when there is no other mode of transportation to get to work. Really bad debt: unpaid credit cards - for dinners out.