Taking on debt strategically can help build wealth if used for specific purposes like consolidating debt or making home improvements. Personal loans offer lower interest rates compared to credit cards, simplify repayment, reduce credit utilization, and remove the temptation to keep borrowing. Consider how a personal loan aligns with your long-term financial goals to avoid unnecessary risks. Remember to shop around with multiple lenders before choosing a loan to find the best offer.

Read more at Yahoo Finance: How smart borrowing can grow your wealth