Positive side of Debt?
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| Sun, 03-29-2009 - 5:03pm |
I am somebody who believes that no situation is all good, or all bad. My friend and I have been working with each other to better of finances. We were talking about the positives of it (the negatives are obvious). After a lot of thinking my positives of having debt are:
It has caused me to learn about money and investments and I am not sure I would have if I didn't have to come up with a plan to get rid of the debt
I now budget, and I didn't before my debt repayment plans
I value my money more than I used to
I have learned new ways to be frugal (I had never purchased used furniture before!)
I talk to my husband more about money than I did before
I have a cash emergency fund, as a result of my research
Prior to obtaining my debt and making a plan to get rid of it, I was doing lots of things right, but there was lots of room for improvement. Now I have a plan to make those improvements (again as a result of my increased knowledge).
Are there any positives to your debt?
Do you think there is anything positive about the current economy?


Are there any positives to your debt?
Do you think there is anything positive about the current economy?
The economy has given me more opportunities to teach people who are looking at career change. Instead of being stuck on a line, because it was the job they had out of high school, many are looking at new ideas, new dreams, and possibilities they never conceived of before. Adults are showing their children that they can go back to school, and keep learning.
People are exploring entrepreneurship out of necessity, yes, but necessity is the mother of invention.
The positives for me is that it took debt and uncomfort for me to leave a verbally abusive husband. I left a beautiful home, with a pool, but am now happier than I was when I had almost no debt. I also have an advanced degree that secured me a much better job and part-time work as well. Without that debt I would not have that degree.
All lot of your points hold true for me and my husband also.
Norma
"Patience is the best remedy for every trouble"- Plautus
For me, money has not been as much of a problem after I was able to get rid of the mobile home I had in another city(I had to move for my job). That put me quite far in debt because I was renting house here, and paying for mobile home and lot rent at the same time.
Good Question.
I will say that the "positive" side of my debt is that it truly has taught me what I can and can't live without.
I really do think 2 or 3 x more now about buying something. Do I NEED that or do I just want it for now?
Will I use this in the future instead of just for a while? Will this be something I can pass on and someone else can get use out of? Or is it trash?
Is this urge to shop a "quick" fix for something else I'm lacking in my life at the moment.
I've been a lot more honest with myself since this journey began. And I've not always liked the answers I've given but I'm glad to search within myself to make things better.
Are there any positives to your debt?
Do you think there is anything positive about the current economy?
I think there are many positives in my debt:
I have done a lot of thinking this year about where I was, where I am and where I want to be. I know I don't want to go back to where I was, I can live where I am, but I have great hopes for the future.
I really evaluate what I need and what I want. I have now come to the conclusion that if I have wanted something for a few months, I probably will always want it, and generally by that time it is on sale. LOL! I have gone with out a few needs before and have paid more for running out. I am trying to lighten up on myself. A balance is coming together for me.
I now teach my kids about money, and savings. I don't know if they will be able to go their entire lives without debt. I do know if they run into trouble I will be able to help them formulate a plan to get out of it. I have also learned in the power to say NO. No you cannot have that, NO you do not need that. I am hoping they ask themselves these questions when they are on their own and all grown up. I may LOL remind them from time to time.
I like to think.....that all my talk about debt and how far I have come has influenced my bf to pay off some of his student loans with his tax return he might be(likely) getting.
I look more towards the future in regards to what I really want and thinking about what I need to do to get there. I don't just look month to month or week to week anymore. However, I am working on living in the moment and enjoying the things I do have. Balance is difficult but it is coming.
I have been more frugal. I am hoping that using some of the tips on this board in regards to food, insurance, and how to manage my money I will get closer to the things I want faster, after the debt is gone. I am looking at a life change.
Many positives, lots to look forward to. 2010 is going to be MY year!(Thats when I will be out of debt I hope!!)
"Are there any positives to your debt?"
I discuss with my children (adults now) on how to handle debt and keep their CC's so that they are managing their money and not the other way around. They are much better with their money than I was at their ages.