Welcome to the global classroom! In this video I discuss the concepts of good debt versus bad debt. Good debt, such as a mortgage or student loans for education, can increase your net worth and generate future income. On the other hand, bad debt finances purchases that depreciate without adding value, like credit card debt. It is crucial for you to manage your finances responsibly by controlling your spending and saving and investing wisely. By doing so, you can fortify your financial position and create wealth.