No. It’s just dumb to keep a mortgage on your house for 2 percent. The closing costs alone probably wiped out any real gains. More importantly, why gamble with your home? Pay it off and invest the amount of the monthly payment.

The author has no knowledge of what a polygraph test is. They are very accurate, although not 100%, and not easy to fool.

This is America. You have the right to be wrong. :)

Far more people have built wealth over time by staying out of debt versus getting into debt. I think people like to justify the choices they made instead of learning from then.

Umm.. Yup.. I did not say most.

I’m not sure who you are quoting. I don’t know anyone who ever said anything like that. You basically rephrased my whole point though about college loans though.

I have no problem with risk. I have individual stocks and other investments. I pay cash my stocks. I do not borrow on margin, even though I COULD make more.

That’s terrible advice for businesses also. Why do you think most small businesses fail? They borrow to much and get in over their heads. Growing slowly and organically is usually the best.

Many people do. I do have a mortgage though. It’s not GOOD debt. I hate having it and will pay it off as fast as possible. I was not saying that you should absolutely never take a loan for any reason. I am saying that all debt is bad and it is best to avoid it if you can.

Poor people should not give financial advice. #1o is the worst of it. There is no “good debt”. That mind set is why so many people bury themselves is student loans. Half the time they don’t finish our use the degree.

DVD’s? Oh my god it’s 1995 all over again.

What terrible financial advice. First of all, if you can finance a car for $35000, you can probably pay 31K cash. Second, you are far more likely to spend more than you can afford when you finance. Third, nobody is calculating risk. How many people who paid cash for a car have it repossessed?

I guess you didn’t read the part when I explained about exceptions for medical emergencies and such. That being said, yes it probably still is your fault you are in debt. Nobody forced student loans on you. That was your choice. I’ll bet if we tracked every dollar you spent last month, you spent all kinds of money on…

I don’t think that was the goal, although it would be a good one. Obama’s goal was to artificially prop up the economy like he tried to do with housing. It would be great if someone in power took that goal seriously though.

So because there was a war once the government should keep pissing away money on entitlement programs for eternity?

I guess the government shouldn’t have paid people to buy cars.

Oh god. We get it. He should not have been arrested.

Since when was there a war on guns?

I don’t know this author (although I suspect he works in auto finance), but these articles drive me crazy. Dave Ramsey’s whole point is that people spend WAY too much on cars. They are a big waste of money, money most people can’t afford to piss away.

Most people would be much better off paying off the debt and then investing. People tend to assume that they will always have debt. That doesn’t have to be the case. Debt equals risk.