Comments on: Is There Such a Thing as Good Debt? http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/ Making You a Winner at Money and Life Sat, 19 May 2012 22:49:31 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Festival of Frugality #213: The Long-Term Planning Edition | Cooking Manager http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-10216 Festival of Frugality #213: The Long-Term Planning Edition | Cooking Manager Wed, 11 Jan 2012 13:57:58 +0000 http://personalfinancebythebook.com/?p=972#comment-10216 [...] Plemon has a slightly different take on this question, with Is There Such a Thing as Good Debt? posted at Personal Finance By The [...] [...] Plemon has a slightly different take on this question, with Is There Such a Thing as Good Debt? posted at Personal Finance By The [...]

]]> By: joeplemon http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-7657 joeplemon Fri, 20 May 2011 15:28:04 +0000 http://personalfinancebythebook.com/?p=972#comment-7657 @LE, Dave preaches a with broad strokes to a huge audience. Although I can't speak for him, my guess is that he would have little problem with the way you handled your student loan debt. The ideal plan is to graduate with zero student loan debt, but personal finance being personal, sometimes one needs to weigh one's choices. By the way, I like your analogy of paying smallest debt first to completing college quickly. I had never heard that one before. @Sheila, How true. People always USED to consider home ownership a very safe investment. However, after the real estate bubble burst, the best mindset is to think of owning a home as an expense instead of an investment. You are right: being debt free is the best way to go. @LE,
Dave preaches a with broad strokes to a huge audience. Although I can’t speak for him, my guess is that he would have little problem with the way you handled your student loan debt. The ideal plan is to graduate with zero student loan debt, but personal finance being personal, sometimes one needs to weigh one’s choices. By the way, I like your analogy of paying smallest debt first to completing college quickly. I had never heard that one before.

@Sheila,
How true. People always USED to consider home ownership a very safe investment. However, after the real estate bubble burst, the best mindset is to think of owning a home as an expense instead of an investment. You are right: being debt free is the best way to go.

]]> By: Sheila http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-7408 Sheila Sat, 14 May 2011 13:10:26 +0000 http://personalfinancebythebook.com/?p=972#comment-7408 It is certainly debatable if there is such a thing as good debt these days. It use to be you could always invest in a home and it would be good credit. However, with the current problems, I know the value of my home has been affected. I have reached the point where I believe the best solution is to be debt free. It is certainly debatable if there is such a thing as good debt these days. It use to be you could always invest in a home and it would be good credit. However, with the current problems, I know the value of my home has been affected. I have reached the point where I believe the best solution is to be debt free.

]]> By: LE http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-7371 LE Wed, 11 May 2011 20:34:37 +0000 http://personalfinancebythebook.com/?p=972#comment-7371 I'm a Dave Ramsey follower, but Student Loan debt is where I differ with him a little. Yes, it would be great to graduate debt free, but I'd rather graduate quickly, with a small amount of debt than slowly(or not at all) with no debt. If you can graduate in 4 yrs and get a good paying job, then a small amount of debt is OK. Versus, working for 6-7 years and going to school part-time. A lot of people quit/postpone school if it takes too long to graduate. Life happens. For the same reasons Dave says attack debt smallest to largest, I say finish school quickly. If you're stuck on it too long, you lose hope and quit. The key is to be really frugal while in school and don't take more than you absolutely need. I graduated with $21k in debt, but my income went up by $20k my first year out. People that are graduating with $60k - $100k+ in debt are just insane (unless they are Medical doctors). I’m a Dave Ramsey follower, but Student Loan debt is where I differ with him a little. Yes, it would be great to graduate debt free, but I’d rather graduate quickly, with a small amount of debt than slowly(or not at all) with no debt.

If you can graduate in 4 yrs and get a good paying job, then a small amount of debt is OK. Versus, working for 6-7 years and going to school part-time. A lot of people quit/postpone school if it takes too long to graduate. Life happens.

For the same reasons Dave says attack debt smallest to largest, I say finish school quickly. If you’re stuck on it too long, you lose hope and quit.

The key is to be really frugal while in school and don’t take more than you absolutely need. I graduated with $21k in debt, but my income went up by $20k my first year out.

People that are graduating with $60k – $100k+ in debt are just insane (unless they are Medical doctors).

]]> By: Financial Planning from Personal Finance Blogs | Personal Investment Management and Financial Planning Blog Directory http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-6757 Financial Planning from Personal Finance Blogs | Personal Investment Management and Financial Planning Blog Directory Thu, 10 Mar 2011 02:45:36 +0000 http://personalfinancebythebook.com/?p=972#comment-6757 [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The Book, saying, “Joe examines different types of debt to [...] [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The Book, saying, “Joe examines different types of debt to [...]

]]> By: New Laws Rock the Debt Settlement World http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-3300 New Laws Rock the Debt Settlement World Wed, 18 Aug 2010 09:31:56 +0000 http://personalfinancebythebook.com/?p=972#comment-3300 [...] has poured into the airwaves from debt companies that promise an easy fix for very complicated debt problems. Complaints about these companies to the BBB have grown and many consumers have gotten into serious [...] [...] has poured into the airwaves from debt companies that promise an easy fix for very complicated debt problems. Complaints about these companies to the BBB have grown and many consumers have gotten into serious [...]

]]> By: SFaith http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-692 SFaith Fri, 22 Jan 2010 20:47:28 +0000 http://personalfinancebythebook.com/?p=972#comment-692 The Bible does not condemn debt, it just advises people to avoid it. It also admonishes those who have the means to lend to their brothers in need. I agree with you that the words good and debt just don't quite go together. .-= SFaith´s last blog ..<a href="http://www.homemade-money-guide.com/why-write-a-business-plan.html" rel="nofollow">Why Write A Business Plan?</a> =-. The Bible does not condemn debt, it just advises people to avoid it. It also admonishes those who have the means to lend to their brothers in need. I agree with you that the words good and debt just don’t quite go together.
.-= SFaith´s last blog ..Why Write A Business Plan? =-.

]]> By: Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Twenty-third Edition http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-687 Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Twenty-third Edition Wed, 20 Jan 2010 11:21:48 +0000 http://personalfinancebythebook.com/?p=972#comment-687 [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The Book, saying, “Joe examines different types of debt to [...] [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The Book, saying, “Joe examines different types of debt to [...]

]]> By: Money Hacks Carnival #100! | Ultimate Money Blog- Save Green and Live Green! http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-686 Money Hacks Carnival #100! | Ultimate Money Blog- Save Green and Live Green! Wed, 20 Jan 2010 09:06:50 +0000 http://personalfinancebythebook.com/?p=972#comment-686 [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The [...] [...] Plemon presents Is There Such a Thing as Good Debt? posted at Personal Finance By The [...]

]]> By: Best of Money Carnival: Edition #34 — the centsible life http://personalfinancebythebook.com/is-there-such-a-thing-as-good-debt/comment-page-1/#comment-675 Best of Money Carnival: Edition #34 — the centsible life Mon, 18 Jan 2010 11:06:02 +0000 http://personalfinancebythebook.com/?p=972#comment-675 [...] Is There Such a Thing as Good Debt? by Personal Finance By The Book. Joe examines different types of debt to determine which, if any, can be considered “good”. [...] [...] Is There Such a Thing as Good Debt? by Personal Finance By The Book. Joe examines different types of debt to determine which, if any, can be considered “good”. [...]

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