Taking on debt isn't always a bad thing. In fact, some strategic borrowing could help you build wealth, as long as you have a clear purpose for the funds. When used wisely, debt such as a personal loan can be an effective tool for growing your income, improving your credit, consolidating debt, or increasing the value of your home. Using a personal loan for a vacation or other discretionary expense, however, won’t improve your long-term financial picture. Knowing how to use a personal loan strategically c ...