MannyS
Contributing Member
Cash: $ 7.30
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| What's considered debt? |
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So if Intro to Business back in freshmen year of High School was right it means you owe somebody/a company money and usually there its interest added to it. I hope I got that out of the way.
But what's debt? My mind automatically aligns debt with credit cards and the interest and the minimum payments and what not. Are home mortgages and monthly care payments considered debt?
My uncle told me that debt isn't truely a bad word and that's it's hard to not go into debt at one point or another. Is he koo-koo?
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Tue Jun 20, 2006 3:18 am |
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nkthen
Full Member
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| Re: What's considered debt? |
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quote:
Originally posted by MannyS
So if Intro to Business back in freshmen year of High School was right it means you owe somebody/a company money and usually there its interest added to it. I hope I got that out of the way.
But what's debt? My mind automatically aligns debt with credit cards and the interest and the minimum payments and what not. Are home mortgages and monthly care payments considered debt?
My uncle told me that debt isn't truely a bad word and that's it's hard to not go into debt at one point or another. Is he koo-koo?
Depends on how you want to view it.
To me, as long as you owe, it's a debt. So mortgages are considered a debt to me, it's just a different name.
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Tue Jun 20, 2006 3:27 am |
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MannyS
Contributing Member
Cash: $ 7.30
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Joined: 23 Jan 2006
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Thank you fellers
More questions to come in the future.
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Wed Jun 21, 2006 10:33 pm |
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go2self
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Your uncle is right, debt is not bad if it produces income that creates more return than it costs.
Debt is not only about money. Money is just the simplest resource used to pay off debt.
Ever owe a favor? How about time? Most surely you often owe it to yourself to do or accomplish something.
Here is a simple question that even experts disagree on.
What does finance mean?
Time is our most volatile resource that if not used immediately is lost instantly
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Sun Aug 06, 2006 10:35 pm |
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No-Brainer
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| Hmmmm . . . |
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To me it's, "We Owe, We Owe, So off to work we go".
When you get rid of it, it's, "Got nowhere to go and all day to get there".
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Mon Aug 07, 2006 12:10 am |
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No-Brainer
Senior Member
Cash: $ 83.45
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Joined: 29 Dec 2005
Location: Oregon USA
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| More . . . |
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quote:
Originally posted by go2self
NoBrainer - LOL aint that the truth, and boy the truth hurts...
...sooo goood
It only hurts for a little while . . .
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Free Crypto Pays Compound Interest DAILY!
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Mon Aug 07, 2006 6:04 am |
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