In this episode I’ll answer a listener question: “If you have a $4,000 loan at zero percent interest that will be paid off in 12 months, why spend $4,000 of your savings to get rid of a $333 payment?” I’ve heard many variations of this question over the years. It essentially boils down to this one: “Is a little debt okay?” Debt is a dangerous thing and can spread like wild fire and eat up your personal wealth.
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Comments 23
Sounds like very helpful info. I think this will help a lot of people!
I don’t like having any kind of debt but with a house and multiple cars, it happens. I only keep one credit card just in case, and I always make more than the minimum payment!
This is really helpful & I have to share it. Many people get frighten when they hear the word debt & it doesn’t have to be that way.
The problem with a little debt is that once you have a little then you gradually think it is okay to add some more and eventually you have a lot of debt.
this series is very helpful I’m learning lot thank you.
Sure does give me a lot to think about. I am actually working on restructuring my debt..
Debt is scary but a little debt is ok. We always pay off our credit cards though.
We believe in not having any debt. Of course typically house and car is unavoidable
Debt does sound scary. I will have to listen to this. I’m sure a little is ok, but definitely not overboard.
Most people can’t handle it. They love getting “stuff” and little debt becomes big debt.
Any kind of debt is scary. Thankfully the only debt we have is our mortgage, we recently paid off both cars and student loans. I hate having debt looming over our heads.
I think a little debt is ok, but I am finding out that it can be tricky to navigate
After paying off my college loan from adult college classes, I am nearly debt free yay
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That’s awesome, Carol!
My debt was perfect for years. Now my student loans are going to come due when I graduate, and that’s got me very apprehensive. I’m too old for debt like that, I wish I’d have used better judgment.
I hate being in debt, it’s no fun and comes with so much stress. most of my debt is from student loans.
I wish someone would have taught me about debt when I was a freshman in college. Ha! 🙂 Debt can loom over your head no matter how high your credit score may be. Thanks for the info!
Debt can be a very overwhelming thing to deal with. But it is so important todeal with head on so that your family and children don’t have to unsort a mess.
I was lost when I started paying bills on my own. This is great information
No form of debt is pleasant .. whether Big or small. I try to never take out a loan but for some people this is not an option as they need the money for various things. This was a great session with valuable tips
I wish I knew about this earlier. Such great information
To me I don’t think any debt is good. We have been trying to get out from medical bills and it is a struggle,
If you are trying to build/rebuild your credit then yes a little debt is necessary. I can’t wait to listen to the podcast. Thanks