Personal debt is a choice.

Cpt_Kirk said:
Is it a choice? Yes.

So, do you look down on someone that has debt?
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Only those that have too much and can't or won't pay it back and blame it on someone else. Happens all the time.
 
PaulS said:
I love using the 30 day float in credit cards to pay my bills reaping the points as a reward.

As I said before, I don't see debt as evil, but I do see the misuse of debt as a huge problem.
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A huge problem for who? Shouldn't we just let other people manage their own finances as they see fit?
 
It took me many years to figure this stuff out. Years of having to have new cars, etc. Basic keeping up with the Jones.

Finally got it together and began working on the credit and got rid of everything except the mortgage. Three years ago I got offered an early retirement package, took it and at the age of 60 found myself retired. If I had not worked to get rid of the debt I'd still be working.
 
Everskyward said:
A huge problem for who? Shouldn't we just let other people manage their own finances as they see fit?
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Yes people should manage their own finances and no they shouldn't be bailed out. Unfortunately it seems people want to be bailed out and there in lies the problem.
 
PaulS said:
Yes people should manage their own finances and no they shouldn't be bailed out. Unfortunately it seems people want to be bailed out and there in lies the problem.
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Who is asking to be bailed out?

Do you think more people were bailed out on personal debt or on corporate debt in 2008?


There are people who should not have debt. There are people who should not drink alcohol. There are people who should not own guns. Are you trying to limit their choices, or just look down upon them?
 
PaulS said:
Not at all Captain, do you?
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Nope.

BG305 said:
No sir :no: that is your choice and you are free to make it.
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Nope.

JOhnH said:
Only those that have too much and can't or won't pay it back and blame it on someone else. Happens all the time.
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I can agree to that, somewhat.

In response to all, I skimmed over parts of the thread and got a feeling everyone looked down on people that borrowed money. Unfortunately, I borrowed a substantial amount for flying/college. Do I regret it? Yes. Do I complain about paying it back? No, I borrowed it. Is it going to suck? Absolutely.
 
PaulS said:
Yes people should manage their own finances and no they shouldn't be bailed out. Unfortunately it seems people want to be bailed out and there in lies the problem.
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I don't think many individuals get bailed out, unless you are talking about declaring bankruptcy.
 
JoseCuervo said:
Who is asking to be bailed out?

Do you think more people were bailed out on personal debt or on corporate debt in 2008?


There are people who should not have debt. There are people who should not drink alcohol. There are people who should not own guns. Are you trying to limit their choices, or just look down upon them?
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What is your problem, where have I said I look down on them?

The corporations should have been allowed to fail in my opinion. Many people had their mortgages restructured, that was a bailout.
 
I'm in Southeast Asia right now. I don't think personal debt exists here. You either have enough money to live, to whatever your standard is, or you don't. If you don't, and there is no charity or family to keep you alive, you sleep in the weeds and eat rats and foilage, or die.
 
Personal debt is sold to our society by the banks and the credit card companies. And our schools don't equip people to understand what they're signing up for. It's not just personal finance, our society has a perverse sort of pride in being math illiterate. A researcher came up with the term innumeracy to describe it, there are a lot of articles out there on just how bad we are at math. One Department of Education study showed 55% of Americans don't have the math skills to take two items off a menu, add them together and calculate a tip. Debt becomes a dangerous thing with that lack of knowledge.

I took on debt for college, and I'm close to paying it off. I make good money now because of it and would say my life is better off for it, but it was definitely a choice on my part. Same with my house. I take on as little debt as possible, but I realize it's all a choice.

Sent from my Nexus 10 using Tapatalk
 
PaulS said:
What is your problem, where have I said I look down on them?

The corporations should have been allowed to fail in my opinion. Many people had their mortgages restructured, that was a bailout.
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Weren't you passing judgement on those who have personal debt?
 
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