Posted on June 13, 2008 at 2:46 am Sounds silly, isn't it?  If you are in deep debts, you hope to be free from it. Why on earth would anyone want to get  into debt? As our money is limited, we can borrow money to take the opportunities that may arise in earning more money for us. Have you heard of the phrase use other people money to make money? That is exactly what I am trying to say here. Even though you might say it is risky, tell me if there is anything in life that is not risky? Even sititng in your home can be risky . It just that we have to thread carefully along the line.

Posted on September 24, 2008 at 12:00 pm Stupid to not have debt?  I think it's great to not have debt.  I am working my way to be debt-free.. Even the mortgage. I don't believe we should use other people's money to make money.

Posted on September 24, 2008 at 1:03 pm Debt free is the new way to go for sure. i have been now for 6 years and I am 35 and I love it. The only payments I have to make are for phone, utilities, and cable.

Posted on November 18, 2008 at 9:20 pm I believe there is good debt and bad debt. Good debt is using credit to buy things that you could easily pay for out right, in cash, purely to build good credit standing and payment history. Bad debt is using credit to buy things you don't really need and/or can't afford at all. I think most people use credit and debt incorrectly. I was taught by my parents at a young age not to buy something I couldn't afford. They never just 'gave' me money for the things that I wanted. It really sucked when I wanted a new bike or the latest Star Wars playset, but I learned valuable lessons and I am grateful today that I learned the right approach. I really learned the value of working and saving and setting goals for myself. If I wanted something bad enough, I would save up the money I earned from chores and get it. I still live by those teachings today.  Here is a hypothetical example: Say I want to buy a new shiny, big  flat screen T.V. It costs $2,000. I would use my credit card to pay for it when, and ONLY when, I had at least $2,000 in DISPOSABLE SAVINGS, after making sure my 'emergency fund' of living expenses was fully stocked  for at least 6 months and I had no other outstanding debt. By taking this approach, I can comfortably pay off the T.V. in full at anytime, establish good credit standing and enjoy the T.V. without any worries. I believe if more people took this approach (and passed it on to their kids), our country wouldn't be in such bad shape economically. Instant gratifcation needs to be replaced with patience, discipline and solid financial education and practices.   

Posted on November 19, 2008 at 10:03 am If you use debt to fuel growth (as in you have a contract that states you will get paid for a service, but, you must first provide the service...) and you have to go in to debt to fulfill promised services, I don't see a problem with debt.  However, this is short term debt, PIF after a small time.  The business equivalent of paying off your credit cards after every month.  I don't see an issue with this type of debt. As an individual, however, debt free is the way to go.

Posted on November 21, 2008 at 5:11 pm Hmmm, "not having debt is stupid". I could see words like "unlikely", or "fantastic". But  not "Stupid". Kind of like saying to your kids that  "not petting strange dogs is boring". Be careful with comments like these, in an insidious way they increase your debt tolerance. I would be curious where these kinds of comments originate from, because I have heard it before, maybe the Credit Card companies?  

Posted on November 29, 2008 at 9:32 pm So, basically, someone else who has no debt, or little or next to none, is calling you stupid?  What an errogant @sshole.  I believe that every person does the best with what they have.  And, if you were in someone elses situation, given the same information, more than likely you would make the same decisions.  Judge not, lest you'll be judged.  Silly buggers!

Posted on December 1, 2008 at 1:17 pm We just need to understand the difference between a good debt and a bad debt. For example, Your morgage as long as it is affordable, can be a good debt.Student loan is a good debt. If you are starting a small bussines, you do your home work and you know the business is profitable thats a good debt. All Credit cards are bad debts. Your expensive lexury car is a bad debt.  

Posted on December 5, 2008 at 9:55 am Our problem is we are so far in credit card debt it seems like we will never get it paid off

Posted on March 23, 2009 at 7:24 am actually..it is a good thing to have a debt..financial analysts actually suggest that we incur debts so we can use the money profitably..but of course we have to know how to pay them..and should be able to pay them too.. :D