What is debt good for?

Question: What is debt good for?

Answer: Nothing.

Owing money is never a good position to put yourself in. Sensible student loans or home loans are an exception, but they aren't to be kept around forever.
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Debt-free world

In the debt-free world being able to afford something is not referring to affording the payment.

Being debt-free is also swearing off any new debt. Being debt-free means not making a purchase on time or credit. Being debt-free means you are wielding a powerful weapon in any negotiation. That weapon is CASH.
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Priorities and responsibility

I've heard it said that if you gamble enough you come out even. If you don’t gamble at all you do the same thing.

Those who gamble can save the justification.

Those in debt who gamble are idiots.

Those in debt with families to feed who still gamble are the lowest of the low.

It is a matter of priorities and responsibility.
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"Paid-for" cars

"Paid-for" cars get better gas mileage.

Not really, but it sure feels that way.
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Spending-based

Cable, satellite dish, internet, cell phone, lottery tickets, cigarettes, alcohol, lunch out, dinner out, travel, not paying attention to your shopping, etc, etc.

So, you're broke huh? There may be a problem here but it may just be in your mirror.

Your problems may be spending-based not income- based.

Or, as my grandparents used to say, "You have champagne taste on a beer budget."
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Make money

Make money, don’t buy it.

If you buy on credit you are agreeing to buy money from someone else and pay a fee (the interest rate) on top of it.

To continue the lunacy, you give money to yet another party to do or buy something you can't afford to pay for in full.

Confused yet? Don't be. To sum up, stay at work and make the money first then spend YOUR money, not someone else's.
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Cash or debit never credit

Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.
Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.
Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.

That about sums it up.
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