Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
Whats an example of good debt?
If someone offered you a loan right now at 1% interest, you could take it, put it in a savings account, and get 4% interest. For a net gain of 3% on whatever the loan amount is. That's the most basic example of good debt.
If you are making money off it then is it really debt?
Yes, because you owe someone else money.
Investment mortgage debt is good if it contributes to tax deductible claims. Owner-occupied debt is good if it’s managed properly. Both are good because you own an appreciating asset.
Credit card debt is good if you don’t hit payable interest, leaving your money to work for you in other ways.
Commodity debt is good if the market swings in your favour.
Business debt is good if it results in surplus revenue generated.
Education debt is good if it’s contributing to future and higher employment gains.
Basically all debt is good if it’s managed properly and results in a net gain somewhere.
So what im seeing is debt is only good in specifc circumstances, so it's better to not have debt
...you're claiming that because some debt is good and some debt is bad, all debt is bad? Your first statement quite literally negates your second statement.
Already being rich enough to afford ~~good~~ profitable debt.