Comments on: Understanding Debt http://www.suburbandollar.com/2009/08/27/understanding-debt/#utm_source=rss&utm_medium=rss&utm_campaign=understanding-debt Where finance and reality meet Sat, 04 Sep 2010 16:14:06 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Roshawn @ Watson Inchttp://www.suburbandollar.com/2009/08/27/understanding-debt/comment-page-1/#comment-1827 Roshawn @ Watson Inc Sat, 29 Aug 2009 13:15:30 +0000 http://www.suburbandollar.com/?p=1417#comment-1827 Excluding my mortgage, I became debt free over a year ago, and I have to say that the restrictions on your cash flow due to good/ok or bad debt is absolutely frightening. I don't believe that all kinds of debt are the same, but regardless of its classification, it does increase your financial risk. Excluding my mortgage, I became debt free over a year ago, and I have to say that the restrictions on your cash flow due to good/ok or bad debt is absolutely frightening. I don’t believe that all kinds of debt are the same, but regardless of its classification, it does increase your financial risk.

]]> By: Matt Jabshttp://www.suburbandollar.com/2009/08/27/understanding-debt/comment-page-1/#comment-1819 Matt Jabs Fri, 28 Aug 2009 05:53:17 +0000 http://www.suburbandollar.com/?p=1417#comment-1819 I respect and understand the opinion and the school of thought that holds the belief of some types of debt being OK. I am not practicing that belief currently.I am working to rid myself of all debt until that glorious day where I sit at $0 owed. Until then I will fight against all forms.I'm not an extremist... I do know and believe that some debt is much worse than others (which is what you're saying in this post.) I just choose to say that it's all bad, just that some are of course worse than others.Oh that sweet and wonderful day when I can be a man without usury. I crave that day with a fiery passion! I respect and understand the opinion and the school of thought that holds the belief of some types of debt being OK. I am not practicing that belief currently.

I am working to rid myself of all debt until that glorious day where I sit at $0 owed. Until then I will fight against all forms.

I’m not an extremist… I do know and believe that some debt is much worse than others (which is what you’re saying in this post.) I just choose to say that it’s all bad, just that some are of course worse than others.

Oh that sweet and wonderful day when I can be a man without usury. I crave that day with a fiery passion!

]]> By: ctreithttp://www.suburbandollar.com/2009/08/27/understanding-debt/comment-page-1/#comment-1818 ctreit Fri, 28 Aug 2009 00:35:42 +0000 http://www.suburbandollar.com/?p=1417#comment-1818 I agree with you that debt is usually not a good thing, but for most of us it is a fact of life. Who can buy a house for cash, for example? In my view debt is only ok, if you have something to show for it so to speak. That something should be an asset that does not decrease in value. So, I agree with you on that point, too. Using debt to buy a house or to get an education is ok in my book. I agree with you that debt is usually not a good thing, but for most of us it is a fact of life. Who can buy a house for cash, for example? In my view debt is only ok, if you have something to show for it so to speak. That something should be an asset that does not decrease in value. So, I agree with you on that point, too. Using debt to buy a house or to get an education is ok in my book.

]]> By: Kylehttp://www.suburbandollar.com/2009/08/27/understanding-debt/comment-page-1/#comment-1814 Kyle Thu, 27 Aug 2009 15:52:28 +0000 http://www.suburbandollar.com/?p=1417#comment-1814 I am not saying go out and get a Harvard education on loans, but without my degree I would have never gotten my job I have now, of course I think my interest rate on my student loan is around 2% or less so it doesn't bother me quite so much. I am not saying go out and get a Harvard education on loans, but without my degree I would have never gotten my job I have now, of course I think my interest rate on my student loan is around 2% or less so it doesn’t bother me quite so much.

]]> By: Christopher J.http://www.suburbandollar.com/2009/08/27/understanding-debt/comment-page-1/#comment-1810 Christopher J. Thu, 27 Aug 2009 14:15:48 +0000 http://www.suburbandollar.com/?p=1417#comment-1810 That's it! I'm telling Dave Ramsey on you! Hahaha! Come on...student loan debt isn't good debt because it helps you get a job. The act of going to college and getting a degree doesn't guarantee that you'll get a job. There's a lot of college students, especially now in this market, that spend all that money and can't get a job in their field once they're out. The only thing that gets you a good job is... YOU. Don't fall into that trap thinking that if you go deep into debt by financing a big school college education, you'll come out the other side OK because you're for sure going to get a huge paying job. I'm proof of that, I have no college degree and I make far more money than my wife does with a Masters degree. Guess who has all of the student loan debt of course? Not me, but I'm helping to snowball it out of existence. That’s it! I’m telling Dave Ramsey on you! Hahaha!
Come on…student loan debt isn’t good debt because it helps you get a job. The act of going to college and getting a degree doesn’t guarantee that you’ll get a job. There’s a lot of college students, especially now in this market, that spend all that money and can’t get a job in their field once they’re out. The only thing that gets you a good job is… YOU. Don’t fall into that trap thinking that if you go deep into debt by financing a big school college education, you’ll come out the other side OK because you’re for sure going to get a huge paying job. I’m proof of that, I have no college degree and I make far more money than my wife does with a Masters degree. Guess who has all of the student loan debt of course? Not me, but I’m helping to snowball it out of existence.

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