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the biggest lie about money our parents the media they all lie to us about this one thing they told us debt is bad but the truth is not all debt is created equal thereamp;#39;s good debt and bad debt Consumer Debt thatamp;#39;s spent on one-time expenses are on things that go down in value yes thatamp;#39;s bad debt and you should try to avoid this a debt thatamp;#39;s attached to something that goes up in value thatamp;#39;s considered good debt a debt that allows you to get assets that creates income same thing thatamp;#39;s good debt debt is actually one of the biggest creators of wealth in this country