joining us is personal finan correspondent on the difference between the good and the bad when it comes to debt. how do you know the difference? >> the thing to think about is if it will improve your life thinking about going back to school or a college degree, student loans, buying a new home or mortgage. debt that will stay with you make you poor, keep occurring and all of that, that is considered bad debt and that is like credit cards and things like that. >> that's a big difference between these things. maybe you should think of it from instant gratification. >> that is the best way to think about it. a lot of folks say i really need these shoes. but that's probably not true. when it comes to getting that college education that is something that you really need. if you want to make sure your return on investment is strong here. you don't want to burden yourself with too much debt. same with buying a home. you don't want to buy more than you caafford wh y need to take out a loan to have these things then that is good debt. >> are there other debts that are out there, too? >> i like a