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Good debt examples

Discussion in 'The lounge – Anything goes' started by Hannah, Nov 13, 2015.

  1. Hannah

    Hannah Member

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    I thought this would be an interesting topic to discuss, since I noticed this forum is for the open minded people :) I like that :)

    Not all debt is bad. Sometimes, getting in debt can turn out to be a good thing! For instance, I'm trying to open up my own business (soon enough, I hope!) and I won't be able to succeed without investing in it first. So, since every entrepreneur knows time is money, I prefer not to waste mine and get a loan so I can start working on my own ASAP.
    In time, I hope profits will rise through the roof (need to stay positive! :D ) so, my getting into debt would actually earn me money on the long run!

    What other examples of good debt can you come up with?
     
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  2. Kinga2015

    Kinga2015 New Member

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    This is easy for me to answer: having a mortgage is definitely a good investment!
    Sure, it's a huge investment, but it's the only way you get to own you own home! I don't think I would ever be able to save up THAT much money to buy a house, while also paying rent! So, a mortgage is definitely the perfect good debt example!
     
  3. Perry

    Perry Administrator Staff Member

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    Yea, own your home can be a good investment... Crashes like the one in 2008-2009 is very unusual, but if you buy a house in a good spot and take care of it should pay off in the long run.

    Other then that paying rent / mortgage interests with a loan might be good in some cases, if one is sure new money will arrive shortly. Adjusting life style is also crucial if that is going to work.
     
    Last edited: Jan 14, 2016
  4. J. Doe

    J. Doe New Member

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    I think all debt is good, if and only if it's a responsible debt!
    For instance, I got into debt so I could help my daughter pay her rent. It was a responsible choice, money was needed. But I would never go into debt to buy clothes or shoes, as my wife did, centuries ago, before knowing me. That is purely irresponsible money spending and it helps no one (but the banks..).
     

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