do you have any debt?

I happily take on debt if I can get a higher rate of return than I'm paying on interest. I like to keep my cash working for me.
 


Whats the interest rate on all those student loans you were in such a rush to pay back?

Mine are stuck at 2.6 or 2.9% I forget but I can't even imagine why I would ever pay more than the minimum payments on them.
 
Debt is amazing if used properly.

I use debt all the time to buy builings, property, etc.

Credit cards give you rewards for using them, if you can be responsible use them. I've taken many amazing trips around the world all for free.

Want to expand your business and have a full proof plan? Well Debt is great here as well. Build a relationship with a bank and get a unsecured line of credit. Then use that low interest rate to invest into your high return business.

Rates are amazing right now as well so you can get money dirt cheap to borrow.

Remember it's poor people that think debt is bad. It's the people that listen to suzy orman and say I should pay everything off. If you're responsible debt is an amazing thing. Every large investor uses margin, real estate investor uses loans, corporations use loans and lines of credit as well to grow their businesses.

Change your reference on things and you just might change your life :D
 
+1 on Smaxor. If it weren't for debt I wouldn't outright OWN all the things I do. Poor people think debt is bad because they buy liabilities with the money. You know shit that isn't worth 10% of what they paid for it. The wealthy use debt to buy ASSETS that will be worth 1000% of what they paid for it.

So go ahead suckers, keep paying cash, I'm stacking assets using other people's money and getting filthy stinking rich. Money is so cheap right now it's stupid.
 
smaxor said:
Debt is amazing if used properly.

I use debt all the time to buy builings, property, etc.

Credit cards give you rewards for using them, if you can be responsible use them. I've taken many amazing trips around the world all for free.

Want to expand your business and have a full proof plan? Well Debt is great here as well. Build a relationship with a bank and get a unsecured line of credit. Then use that low interest rate to invest into your high return business.

Rates are amazing right now as well so you can get money dirt cheap to borrow.

Remember it's poor people that think debt is bad. It's the people that listen to suzy orman and say I should pay everything off. If you're responsible debt is an amazing thing. Every large investor uses margin, real estate investor uses loans, corporations use loans and lines of credit as well to grow their businesses.

Change your reference on things and you just might change your life :D
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i feel like this goes without saying ... and is somewhat common sense. My original post was just to talk about how ppl borrow all this money to purchase things they really can't afford.When the people in here talk about borrowing money to invest in something that is going to make them more money - obviously that is a smart move. I didn't want to debate that kind of debt, i was wondering if most people here took out large loans to buy houses, cars, bullshit material objects and not investments. However after reading throught the comments i think it's safe to say that most people on here pay cash for houses/cars/etc, and will borrow money to invest in something they know will make them a greater return.
 
Hell yeah I've got debt. I live in California and unless you are already fairly wealthy, paying cash for a decent house is next to impossible. I don't know anyone under the age of 60 out here that owns their home outright. If you live in bum fuck Iowa (no offense to any Iowaians), you can probably get a 4000 sq ft home for $200k and pay cash if you have a successful career.

Shit I could probably sell a couple of my websites and pay off nearly the rest of my mortgage, but where would that leave me. No mortgage, but back to building my empire from square one.

Aside from the mortgage, I have one car payment, but it's at 0% apr so that's smart borrowing. Any credit cards that are used for rewards points are paid off monthly.
 
£2k student loans. Which is gonna be up to about £14k over the next few years. I'd like to have it paid off by the time I finish Uni.
 
leadsupplier said:
my credit rating is off the charts ... still don't how i could walk in a bank and they'll give me 0% on a 30k car loan
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Car companies offer 0% to move units at the end of the year. Wait until December/January and you can pick up some auto loans at 0% on last years models. You can't be picky with the car usually because you're buying up what wasn't sold during the year but it happens a lot.
 
I have about $10k in debt. Mainly medical and remaining balance of my student loan.

I know $10k isn't alot to some people, but to me that's quite an amount to pay off. I would like to pay it off in the near future as I hate having it hang over my head.
 
MyOwnDemon said:
I have about $10k in debt. Mainly medical and remaining balance of my student loan.

I know $10k isn't alot to some people, but to me that's quite an amount to pay off. I would like to pay it off in the near future as I hate having it hang over my head.
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WF Baller Rule #417:

If ever you decide to sell a service that when successful, is capable of earning many tens of thousands of dollars in a single day; It is best not to tell others publically that $10K is "quite an amount to pay off" for a loan.

:uhoh2:
 
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