this post was submitted on 15 Sep 2023
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It depends. You're supposed to use that debt in as smart way so that in the end, you have more money (liquid or in assets) than before, even taking into account the interest you pay.
Good reasons to take on debt: buy a house (no more money lost in rent + your house will keep increasing in value over time), renovate your house (increasing its value), get solar panels (less money spent on electricity + added value to your house),...
If your situation requires it, a reasonably sized car could be a good investment as well. Less money spent and time wasted on public transport (I'm a big fan of public transport though, don't get me wrong).
Even student debt could be seen as a good investment. But I just think higher education should be at least affordable for anyone from the get-go.
An oversized car that you don't really need and loses value as soon as you drive out of the dealership, is not a good reason to take on debt though.
Edit: note that I'm European and not super familiar with the debt culture in the US, where you need to have debt and pay it off for your credit score.