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RE: You are only in debt when you don't understand the breakdown of finances.
Dear @iamjohn
Interesting choice of topic buddy. I must admit that I've enjoyed the read (upvote on the way), however I disagree with some of your statements.
"You are only in debt when you don't understand the breakdown of finances."
Im not sure how to understand it. Entire world is in debt. Entire economy is build on debt. All countries and goverments are in debt. I myself have debt, while I also have assets and savings in FIAT. But netherless - I still have debt.
Would that mean that noone understand the breakdown of finances? I'm just a bit confused and unsure how to understand this title.
I simply found it to difficult to live without debt. Even having a mortgage is debt. Am I wrong somewhere with my line of thinking?
Cheers, Piotr
You are absolutely right. We all are in debt. As I have stated there are good debt and bad debt. Mortgage is sure good debt. On the other hand, if someone have to depend on debt/loan to meet his end needs, there's no good in it.
I'm mostly talking about the day to day expenditure and financial calculation.
Thanks.
Im glad to see how responsive you are @iamjohn
Respect :)