Current Events > Convince me having debt isn't necessarily a bad thing...

(+) Yeah! (+)

Mortgage, car payments, whatever.

I'm trying to avoid it as much as possible but is that irrational?
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Paying off debt at regular intervals is the best way to improve your credit
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If you want a house, you can get into mortgage now, or you could wait ~20 years to save to buy it paid in full. I guess you could also rent it now.
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If you can pay it back, it isnt a bad thing. If you cant pay it back, at least you arent going to jail.
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The problem I have with debt is it doesn't account for sudden life changes. That's what scares me about it the most. It assumes a certain status quo and if that status quo were to change in ways out of your control, it means you've got a knife to your neck now.

Plus it means you have to keep working even if you think you could be doing something better and can have a little downtime to sort it out...
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Solid Sonic posted...

The problem I have with debt is it doesn't account for sudden life changes. That's what scares me about it the most. It assumes a certain status quo and if that status quo were to change in ways out of your control, it means you've got a knife to your neck now.

Plus it means you have to keep working even if you think you could be doing something better and can have a little downtime to sort it out...

I mean, there will be always be an inherent risk to getting into debt. But if you do it properly, you can change the loan or mortgage terms down the line to adjust for sudden life changes. Banks want their money back, good ones will gladly work you with you to adjust the terms should you feel you can no longer meet the original requirements.
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