Effects of debt
People often look at debt as a negative thing, when, in reality, it can be a very helpful tool. It's the driving force behind society today.
I agree with both posts. Debt is the ultimate enabler. It allows our economy to function. Without it, we would not be able to own homes or cars or other things.
Not necessarily...I wouldn't say that we wouldn't be able to own homes or cars as there are some people who don't go into debt from these things...with that being said though the majority of people if not all are in some kind of debt...so I also agree.
I would agree that debt is a good thing.....There are times when I could not afford (at the time) certain items that I needed. Also without debt I could not have afforded my car, and house.
bono
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I agree Debts are good for a particular country. It helps infuse cash to the national budget that in turn can be use for basic social services.
While individually too much debt is dangerous for any person because it will cause you to spend so much of your hard earned money just by paying your debts. So balancing debt is important also
Well maybe it depends on the person himself. One how he can manage it, commonly when it comes to money, what they can think of was to spend.
I dont look at debt as something positive.. It can come back to haunt you.
Debt is fine for consumers when it comes to real estate. And it's good for companies when it comes to everything else that depreciates.
Debt is about spending. Even the government encourages spending to a certain extent because it is also good for the economy. At the household level that is also true. Spending is good if you spend wisely.
[QUOTE=milo07;1069]People often look at debt as a negative thing, when, in reality, it can be a very helpful tool. It's the driving force behind society today.[/QUOTE]
This post makes my head hurt. Debt may often be necessary, but it is never a good thing. Owning your home is a necessary debt, but that doesn't make it good to be six figures in debt.
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