Quote:
Originally Posted by Mr. Blonde
I guess this is what I'm not getting here. Is there some...like...GOOD REASON to be in debt? I remember reading a while back that it's a good thing for nations to be in debt, and I recall learning a bit about that, especially during the Revolutionary War, but I wasn't sure if, in the financial background, if there is any reason to?
I plan to be in debt only for large, necessary purchases or investments. I see no reason at all why I should wait another 4 years to pay off my student loans.
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I was mostly being sarcastic in saying that modern Americans prefer to finance themselves right up to the breaking point instead of living debt free. Continually paying down debts decreases cash flow causing you to borrow for things you would have otherwise bought outright.
As far as "good debt" ... its been a while since I've read / heard the various arguments for good debt. I'm fairly certain that medical and credit card bills are not among the good though.