Comments on: Twelve Reasons to Stay in Debt

By: Jesse

Jesse — Tue, 30 Jun 2009 14:28:48 +0000

So, if I read between the lines, you’re saying that being up to my ears in debt is… bad?

I eagerly await your piece on puppy-kicking. I’ve heard negative things about it, but you know what’d really convince me? An ironic article about all the inappropriately labeled “advantages” of kicking puppies. Sometimes I just can’t understand why something so obviously bad is undesirable until I’ve seen scorn heaped on the imaginary people who favor it.

By: trevor

trevor — Tue, 30 Jun 2009 08:02:36 +0000

I think the most important thing to remember is to think before you buy, but I like your list – it doesn’t make me want to stay in debt I am working hard to get myself out of debt at the minute and currently working full time and trying to make money online

By: MoneyEnergy

MoneyEnergy — Tue, 30 Jun 2009 06:51:35 +0000

ha ha… I actually thought I might be getting *real* reasons to stay in debt – you know, good debt, etc. etc. funny nonetheless…. I’m imagining what its counterpart for nutrition advice would look like.

By: Nickel

Nickel — Mon, 29 Jun 2009 23:52:07 +0000

cg: This post (which is a guest post, btw) is targeted specifically at credit card debt. As I’m sure you’re aware, you’d be hard-pressed to find an investment that makes carrying credit card debt a good idea. Admittedly, I’m ignoring 0% balance transfer arbitrage here, but I’ve written extensively about that in the past. For a lengthy discussion on keeping your mortgage vs. paying it off, see here:

http://www.fivecentnickel.com/.....or-invest/

By: cg monster

cg monster — Mon, 29 Jun 2009 23:42:05 +0000

There are actually good reasons to be in debt.

For example, in normal years, you can expect to get higher returns in the market than what you pay for your mortgage, which means it does not make sense to pay your mortgage.
Or you can use leverage to get improve your financial situation.

I was expecting this kind of discussion or analysis on this post, not more of the same ‘debt is evil’ post. I guess you know better what your audience expects.

By: SingleGuyMoney

SingleGuyMoney — Mon, 29 Jun 2009 22:37:13 +0000

So true. I hate to think of all the things I paid for over and over again.

I hate to think of the crazy things I put on credit and paid for for years.

So glad all that is finally behind me.

By: Blaine Moore

Blaine Moore — Mon, 29 Jun 2009 16:53:42 +0000

Heh – very humorous. Only one problem with the list – the “free loaders” aren’t actually free loaders so by carrying debt I don’t think I can effectively offset their responsible use of credit cards.

The fees that the merchants pay to the credit card companies for accepting the cards more than makes up for any rewards or lack of interest charges that that individual incurs.

By: Steve

Steve — Mon, 29 Jun 2009 15:23:58 +0000

My wife and I have agreed to try to have children when we get out of debt … Depending on the day, that’s motivation to spend like a madman.

By: HS

HS — Mon, 29 Jun 2009 14:22:34 +0000

I have to disagree, I signed for my CC debts and I’ve payed most of them back, YES I paid interest but I was fully aware when I signed for my purchases. I’ve never really had any other fees since I’m responsible and I make my payments in time. Debt is a tool and can be used positively, just my 2 cents.

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Mon, 29 Jun 2009 13:59:52 +0000

Very funny look at debt, but sadly, very true for many . . .