Quote:
Originally Posted by Taittinger
Carrying debt is a part of modern finance. Those who do not include it are short-changing themselves in more ways than they think. Debt is an accepted and required reality of finance. If you do not have it you have no financial clout. That is not to say one should over-extend themselves.
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Carrying "debt" is one thing. People do this with things like mortgages and car loans because they have relatively low finance charges. Credit card debt is
NOT a part of modern finance, anyone who carries a debt on their credit cards with 10+% interest is NOT getting financial benefit.
Any one who carries debt because its actually debt and not simply a loan they did not
require in the first place is also not doing themselves a financial service.
If you could not buy something without getting a loan for it, you should NOT have bought it in the sense that your not helping yourself by getting the loan and going into debt.