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‘Good’ debt is used to purchase assets that are likely to earn you income or increase in value over time such as houses and investment properties. People get into ‘good’ debt with the intention of balancing investment cost against profit which the debt will yield. ‘Bad’ debt is used to buy goods that devalue such as cars, TVs & white goods. If your current debt is mostly bad debt, then pay off the credit card/loan with the most amount owing . Once paid off allocate that amount to your next debt until it has been paid off.