this post was submitted on 20 Oct 2023
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Hear about how much debt everyone in the US has all the time, curious about some of your stories!

My bad debt is 10k left on a school loan from a for profit school that is now out of business.

Only other debt is house.

So how are you all doing with debt management?

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[–] Cryophilia 7 points 1 year ago (1 children)

If someone offered you a loan right now at 1% interest, you could take it, put it in a savings account, and get 4% interest. For a net gain of 3% on whatever the loan amount is. That's the most basic example of good debt.

[–] VelvetStorm 0 points 1 year ago (1 children)

If you are making money off it then is it really debt?

[–] StuckInAWell 3 points 1 year ago

Yes, because you owe someone else money.