I know this might just reflect financial culture differences across countries, but let’s give it a try

Edit: as a clarification, I meant credit card compared to debit, not to cash

  • JackbyDevEnglish
    2·
    1 year ago

    They’re not moving the goal posts from good debt to own vs rent, the reason a mortgage is good debt to have is because it is better than renting. Consider taking out a loan for something that has zero benefit, like a statue or yourself or something stupid. That’s bad debt because it provides no benefit. Being in a home builds equity. Your putting your money into a 30 year hole very slowly but it’s better than a bottomless pit.