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| Topic | r/personalfinance is so damn irritating |
| pinky0926 04/30/20 9:39:44 AM #12: | Gen5_AppleJack posted... A lot of people there think there's such a thing as 'good' debt, its embarrassing. I think they just mean that not all debt is created equal. Scenario A: It's not good debt to have your credit card maxed out because you bought a new TV you didn't need, and now you're paying interest on the card every month. Scenario B: That's not the same as say, buying a lawnmower now on your credit card because it would be more expensive to hire a gardener to come by and do your lawn for you every week until you have enough cash to buy one yourself. In scenario A, you're going to pay more money than you would have if you had not gone into debt. In scenario B you would likely be saving money in the long term. And if you're about to come up with another way to solve that lawnmower scenario, don't. It's just an overly simplistic illustration. Some debt involves some kind of investment or long term value. --- CE's Resident Scotsman. https://imgur.com/ILz2ZbV ... Copied to Clipboard! |
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