Financial Literacy 101 | Your Money
One thing many people may not realize is that there is a difference between good debt and bad debt, says Leo Daprile, president of Gem Young Insurance and Financial Services in Canfield.
“You almost have to look at your money as an employee,” he says.
“People will look at what they’re earning in the bank versus having debt and they’ll say, ‘it’s costing me money to have debt,’ but if you invest smartly and you can earn a higher rate of return on your investments than you can on your debt then you’re better off to have the debt.”
Original Air Date: September 7, 2021. Every Tuesday during the Dan Rivers show on News Radio 570 WKBN, Gem Young President Leo Daprile hosts a radio show called Your Money. Daprile brings his vast knowledge of all things “money” to discuss the topics in language everyone can understand.
Copyright 2023 The Business Journal, Youngstown, Ohio.