So how much "bad" debt are you in?

posted 1 year ago

ericbomb@lemmy.world

asklemmy@lemmy.world

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Hear about how much debt everyone in the US has all the time, curious about some of your stories!

My bad debt is 10k left on a school loan from a for profit school that is now out of business.

Only other debt is house.

So how are you all doing with debt management?

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Cryophilia@lemmy.world

7 points

1 year ago

If someone offered you a loan right now at 1% interest, you could take it, put it in a savings account, and get 4% interest. For a net gain of 3% on whatever the loan amount is. That’s the most basic example of good debt.

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VelvetStorm@lemmy.world

0 points

1 year ago

If you are making money off it then is it really debt?

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StuckInAWell@lemmy.world

3 points

1 year ago

Yes, because you owe someone else money.

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