Economy

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A 38-year-old with $38,000 in student debt tells other generations, ‘I highly recommend finding a way to avoid taking out loans’ (fortune.com)

submitted 1 month ago by tuxbot@infosec.pub to c/economy@lemmy.world

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[–] Schal330@lemmy.world 3 points 1 month ago (1 children)

I picture a 36 month interest free loan on a big purchase could be "good" debt.

I don't tend to buy things unless I can afford it outright, but sometimes the interest free option is enticing by letting me keep my money accumulating interest in savings each month and slowly paying off that purchase. In doing so it helps my credit rating should I need it in the future for an emergency.

[–] HubertManne@moist.catsweat.com 1 points 1 month ago

yeah as long as the interest free loan is for something you could swing without a loan I could see. I was thinking mortgages and such with housing being so high.