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Is being in debt a good thing?

presluc

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The Once-Popular Purchasing Habits That Most Millennials Are Refusing To Buy Into



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The Once-Popular Purchasing Habits That Most Millennials Are Refusing To Buy Into


And while they are buried in Student loans this generation is cutting cost wherever they can.




Updated 2 weeks ago on August 28, 2019

IMPAC

KENDALL BREITMAN
Some time ago in July 2013 I posted a thread called "America Land of Debt". I got some interesting responses on that thread some said being in debt is not bad , some said being in debt is just a way of doing business,.
I did not agree with these responses then neither do I agree with then today .
A lot has changed since my thread was posted about debt in America in 2013, but the one thing that hasn't America as a nation is deeper and continues to go deeper in debt.
This new generation of millennials I have almost nothing in common with I like land line phones they don't I like driving my own car they don't , I like beef , they don't they like the computer age of texting on line me I call to talk , and there are many more differences That doesn't make their lifestyle wrong , just different from mine.
The Millennials and I have one thing in common though we are cutting back to save money,.
As for me cutting back it won't matter too much for I am retired and shall we say past my prime, but there are a lot of products this new generation might not be buying in the future and if you check the link , Real Estate, Stocks and Bonds, Diamonds, Beef Cars are just a few that might show up short in future statistics..
Ladies and Gentlemen I await you commits on this issue,:peace
KENDALL BREITMAN
 

OrphanSlug

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We need a much bigger logo...
 

presluc

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We need a much bigger logo...
Last time I as on here somebody accused me of not having a link and that was discussed for 2 pages but the thread's op was not committed on at all
So I thought this time I'd make sure they saw my link.
So do wish to discuss the logo or the debt in America?:peace
 

ecofarm

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International debt is a tool of diplomacy.
 

longview

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The Once-Popular Purchasing Habits That Most Millennials Are Refusing To Buy Into



[URL="https://www.icepop.com/millennials-spending-habits-refusing-purchase/?utm_source=geni&utm_campaign=35075772113&utm_term=HOMEPAGE_US&utm_content=newnext&utm_medium=It_YG_IP_US_D_MillennialBuyingHabits_v1_0309&utm_source=geni&utm_campaign=35075772113&utm_term=HOMEPAGE_US&utm_content=newnext&utm_medium=It_YG_IP_US_D_MillennialBuyingHabits_v1_0309#"] [FONT=&]SHARE THI
The Once-Popular Purchasing Habits That Most Millennials Are Refusing To Buy Into[/FONT]


And while they are buried in Student loans this generation is cutting cost wherever they can.




[FONT=&]Updated 2 weeks ago on August 28, 2019

[FONT=&]IMPAC

[/FONT]
[/FONT]
KENDALL BREITMAN
Some time ago in July 2013 I posted a thread called "America Land of Debt". I got some interesting responses on that thread some said being in debt is not bad , some said being in debt is just a way of doing business,.
I did not agree with these responses then neither do I agree with then today .
A lot has changed since my thread was posted about debt in America in 2013, but the one thing that hasn't America as a nation is deeper and continues to go deeper in debt.
This new generation of millennials I have almost nothing in common with I like land line phones they don't I like driving my own car they don't , I like beef , they don't they like the computer age of texting on line me I call to talk , and there are many more differences That doesn't make their lifestyle wrong , just different from mine.
The Millennials and I have one thing in common though we are cutting back to save money,.
As for me cutting back it won't matter too much for I am retired and shall we say past my prime, but there are a lot of products this new generation might not be buying in the future and if you check the link , Real Estate, Stocks and Bonds, Diamonds, Beef Cars are just a few that might show up short in future statistics..
Ladies and Gentlemen I await you commits on this issue,:peace
KENDALL BREITMAN
To me (not young) debt is to be avoided if at all possible.
Debt is simply paying too much for something, because you want it NOW, but cannot afford it now.
Sometimes it is necessary, like a mortgage, but should be retired as soon as possible.
Each dollar in savings is worth about $1.30 in extra income, because you do not pay tax on money you did not have to earn or withdraw.
Few people really do this sort of thing, but it is possible to keep paying a car note into your savings, and drive the car for a few extra years,
until you have enough savings to pay cash for a car.
 

ecofarm

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JohnfrmClevelan

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Does this apply to government spending and debt? All I got from that slideshow was that millennials aren't buying fabric softener.
 

Helix

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Is being in debt a good thing?
i definitely don't think so. i probably could have avoided it if i had stayed single, but i wanted a family, and that generally requires debt unless you pop out of a very wealthy person. our family is worth it, and our debt is manageable so far, knock on wood.
 

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We are living in a debt based society- it's good for debt holders. The indebted not so much- US citizens are indebted in perpetuity to fund all kinds of crap, so who's to blame them for taking on more debt for *stuff* they want- the debt accumulated for buying stuff can be paid off and that record of paying off can be used to help you get into more debt to buy more stuff making the world go round willingly- the perpetual debt *forced* on people is immoral- unless you approve of theft- taking something that doesn't belong to you is theft- of course we can't really say our money belongs to we the people- what we use as currency is borrowed from the fed reserve- the income taxes collected by the IRS is user fees- those user fees are debt and will never be paid off- yet the gov't keeps borrowing- in a monkey see monkey do world what do we expect?
 

Gdjjr

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It's entirely diplomatic.
It's entirely immoral- diplomacy is moral- diplomacy is coming to a mutual agreement-robbing Peter to pay Paul is hardly a mutual agreement- it's theft- buying loyalty with fake money lasts only as long as that fake money- when it runs out, so does the loyalty- diplomacy has to benefit all involved- true leadership is for the benefit of the follower not the enrichment of the leader- forced subservience, extortion and blackmail benefits who?
 

ecofarm

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It's entirely immoral- diplomacy is moral- diplomacy is coming to a mutual agreement-robbing Peter to pay Paul is hardly a mutual agreement- it's theft- buying loyalty with fake money lasts only as long as that fake money- when it runs out, so does the loyalty- diplomacy has to benefit all involved- true leadership is for the benefit of the follower not the enrichment of the leader- forced subservience, extortion and blackmail benefits who?
Threatening to cancel economic relations is diplomacy.
 

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Last time I as on here somebody accused me of not having a link and that was discussed for 2 pages but the thread's op was not committed on at all
So I thought this time I'd make sure they saw my link.
So do wish to discuss the logo or the debt in America?:peace
Happy to discuss debt in America, but I am concerned with your premise on this.

Your ad riddled slideshow notwithstanding, by just about every measure millennials are carrying plenty of debt even if they are not buying all the things you think they should. They may have less automotive and credit card debt per capita, but they do still have the overwhelming majority of higher education debt and as a group they still top some $1 Trillion in debt.

Debt being a good thing or not is an economic discussion, and it is beyond easy to argue we are a debt for services and product oriented economic model.

We know that millennials are going into plenty of debt per capita even if not buying the type of debt you think is good or not (or whatever else.)
 

JacksinPA

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Being in debt is necessary in order to establish a good credit rating, which you will need as you move on through life. I'm referring to reasonable debt that can be paid off without undue strain in a reasonable amount of time.
 

JacksinPA

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Being in debt is necessary in order to establish a good credit rating, which you will need as you move on through life. I'm referring to reasonable debt that can be paid off without undue strain in a reasonable amount of time.
My first real job was in Manhattan working for a mega corporation on Park Ave. In the lobby was a branch of a major NYC bank. I inquired about opening a checking account & borrowing a small amount of money (less that $1K) in order to buy stock in my employer's firm & establish my credit rating as a result of paying the loan back. When the loan officer learned that I was an employee, my credit rating was automatically established. I didn't need that loan.

Many years later & after owning several different houses, my credit score is well above 8. If I ask for a credit card, they send it to me.
 
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BahamaBob

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First of all, it is important to establish credit. A good credit rating can save you a lot of money. It can also help you get a job.

Second, there is two types of debt. Good debt and stupid debt. Buying a home is generally considered a good debt. Even though a mortgage will generally add 50 or 60% to the price of a home, you get some tax benefits and build equity. Neither of those can be obtained paying rent. In addition, historically homes generally increase in value. During my life, I have sold six homes. I made money on every one of them. Stupid debt is doing something like taking out student loans to get a degree in an area where there are no jobs. Every person has limited finical resources. You never get the wasted ones back.

As far as saving goes, if you are planning on living long enough to retire you had better save. Actually you should put money aside to invest. Every million you have in investments at the time of retirement will yield you about 50K annually. The earlier you start building your investment portfolio the better. Don't be suckered into thinking you can wait and start building it later. There will always be a reason to keep putting it off. The person you are short changing is yourself. Believe me, it is much better spending your retirement time on the links rather than being a greeter at Walmart. You also need to put aside an emergency fund. You never know when something will happen and you will need money. A car breaks down, you spend 3 months looking for a new job, your kid breaks his foot in a soccer game. You need money to see you through those times.
 

beefheart

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I am debt-phobic, I pay my credit card as soon as the balance is posted, and I paid my house off 23.5 years early. Its just how I am, I have an outstanding car loan that I am paying off quickly, but I really want to pay it completely....patience... My credit rating is stellar, and I want to keep it that way.
 

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Threatening to cancel economic relations is diplomacy.
Bribery and coercion is not diplomacy- threatening is not diplomacy- arriving at mutual consent where all involved benefit is diplomacy-instilling economic fear is what thugs do-
 

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Bribery and coercion is not diplomacy- threatening is not diplomacy- arriving at mutual consent where all involved benefit is diplomacy-instilling economic fear is what thugs do-
Economic relations is diplomacy.
 

presluc

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International debt is a tool of diplomacy.
If debt is a tool of diplomacy , the way America is going Americashould never have another War, but aren't we at war ?:peace
 

TomFitz

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Ask the self proclaimed “king of debt”!

He’s the one running a trillion dollar deficit without a war or a depression.
 

presluc

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To me (not young) debt is to be avoided if at all possible.
Debt is simply paying too much for something, because you want it NOW, but cannot afford it now.
Sometimes it is necessary, like a mortgage, but should be retired as soon as possible.
Each dollar in savings is worth about $1.30 in extra income, because you do not pay tax on money you did not have to earn or withdraw.
Few people really do this sort of thing, but it is possible to keep paying a car note into your savings, and drive the car for a few extra years,
until you have enough savings to pay cash for a car.
I could not debate that post for I would lose. Truth is I've never paid a car payment in my life always walked in an Auto sales and paid cash, might have took a little longr but ya gotta love those car titles free and clear. The only thing I paid payments on was 2 houses and 3 trailers all paid off and sold .. My code "NEVER TAKE WHAT YOU DON'T NEED NEVER WANT WHAT YA CAN'T HAVE ".:peace
 

presluc

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Threat of force or coercion through wealth confiscation is hardly diplomatic.
I can only agree with that statement .:peace
 
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