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b'Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\\nEpisode 2606:\\nJackie Beck explains the fundamental types of debt, focusing on the differences between unsecured and secured debt. She also delves into the nuances of various credit forms, such as installment and revolving credit, providing clarity on how they impact your financial health. Listen to gain a comprehensive understanding of how to manage debt strategically and avoid common pitfalls.\\nRead along with the original article(s) here: https://www.jackiebeck.com/types-of-debt/\\nQuotes to ponder:\\n"Secured debt is when you have something that you put up as collateral in case you don\\u2019t repay it. If you don\\u2019t repay what you owe as promised, the lender can take whatever you pledged as security."\\n"Unsecured debt is just like it sounds. It\\u2019s debt that is NOT backed by property or money that the lender could take if you don\\u2019t repay them."\\n"With revolving credit, you have a credit limit. That\\u2019s the max amount you\\u2019re allowed to borrow at once. You don\\u2019t have to borrow any or all of it, and you can borrow it over and over again as long as you repay it."\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'