 I need to make money!? |
| i need to make money (no internet surveys, thanks you) in some way that a 6th grader can do.I dont want to work for one of u(sorry) but i already have $50 from v-day so if u have ways to spend money ... |
|
 Are pensions worth investing in? |
Additional Details
Thanks DCGIRL - I am UK based.... |
|
 Do you think Money is the devil??? |
| My little cousin (7years old) told me that money was the devil because people fight over it and have to work so hard just to give it away...what do you think???... |
|
 Do i like money? |
| $money$money$money$money$... |
|
 Can a bank just close my account? |
| I got a nice letter from the bank today (barclays) offering me a £3000 overdraft, i thought, how nice of them, so i rang them up, to try get £250, when i get through they tell me my account has ... |
|
 I need to come up with around $3,000 in 4 days.. Any recommendations. I've asked everyone already !!? |
| My husband is out of work and has been for 2 months now. We have 3 small children and the rent is due plus they took my vehicle and I only have 8 days left to get it back and they're going to ... |
|
 THIS is a Serious QUESTION, PLEASE HELP.? |
Ok I tried this last nite, but i got stupid answers.
PLEASE BE SERIOUS WIth your answers, i need guidance and i don't trust my family and friends on this, just please try to understand, I&#... |
|
 I love money! cant help it? |
| how can i make more...any ideas?... |
|
 What should i do with my bill? |
| i will be two months overdue on my bill tomorow but i dont get my paycheck until 1st of august, any suggestions what should i do?... |
|
 Reporting nasty replies? |
I have had 3 nasty replies to each question I have posted by one user tonight. I have reported her for being abusive.
Do other people report users when they get nasty replies to their ... |
|
 If you won millions of dollars a lottery, what would be the first things you would do with it? |
Additional Details
I personally would buy my own congressman, while they are on sale cheap. Later on they will get more expensive.... |
|
 My Family Is Going Broke and I Can't Drive. How Can I Make Money Online? |
| I am too young to drive a car or get a job, and my family is going broke on money. What are some online jobs that I can do to get some cash that work?... |
|
 Is it safe for my friend to deposit money to my ATM account? |
| my friend owes me money...is it possible to deposit his money into my ATM account? by the way im using Bank of the Philippine Islands (BPI)...i heard some banks doesnt allow other people to deposit ... |
|
|  |
livitup11 | "Healthy" debt? |
I have heard that there is such a thing as "healthy" debt. I am just wondering- if it actually exists -how much/what kind of debt is healthy to have?
I'm a student with no steady income, so I'm just wondering |
 |
 
docmase
 |
Healthy debt is debt which is tax deductible and in an amount which is reasonable for the income of the debtor. An example of such debt is the debt a person would incur in purchasing a home with a mortgage. If that person is living in the home they purchased, they are entitled to deduct the interest payments on the mortgage debt from their gross income, which reduces the total amount of taxes owed.
As a student, since you have no steady income, you do not have the capacity to incur this type of debt yet.
Another type of debt I would consider healthy in your case, is any debt you incur to finance your education and that you are allowed to defer payments on until you begin working. Federally funded loan programs would be considered "healthy debt" in this case.
Unhealthy debt is credit card debt, personal loans used to purchase depreciating assets, and auto loans, in my opinion.
All of these types of debt cause the debtor to pay more for an asset that loses value over time.
Best Regards,
Docmase |
|
heybulldog
 |
No such thing as Healthy/good debt. You pay interest on all debt.
Yea, you get a tax break on the interest you pay for a mortgage. But. You still pay more interest a yr than you would save with the tax break.
go to daveramsey.com and listen to his radio show or watch him on FoxBusinessNews. He has lots of great advice on money and debt.
Some people call him a radical. 250 yrs ago people called our founding fathers radicals.
I say hes in good company.
Debt free is the way to be!
Freeeeeeeeedoooooooom! YEA, BABY! |
|
voluntarheel
|
Some people will say education or a home is healthy debt because it does provide some returns. After all education does give you upward mobility and an increase in potential to earn money. And a house usually increses in value over time.
I suppose those are healthy when you consider getting a loan for an Acura or something that is a total waste of money. But personally I think there isn't such a thing as helathy debt - you'd do well to avoid it as much as possible.
Note: I drive an Acura, but I paid cash for it used. I also have debt in my home, but I'm paying it off early. |
|
KathyS
|
Real Estate |
|
joburgslim
|
The term Healthy Debt was created by the people who want to lend you money. They will make money off you by doing so, so they want you to feel positively disposed to borrowing.
The absolute best case is to have no debt. Sometimes this is not practical, so borrowing within reason to get a great education, or borrowing to buy a house on reasonable terms are the least offensive debts. But that still does not make them healthy.
If you borrow, you should have a written down plan as to exactly how and when you will pay the loan off. It is far better to save and buy with cash.
The lenders want you to believe there is healthy debt, and from their perspective it is healthy. Become a lender and you'll be convinced there is healthy debt. |
|
Kathryn
|
The only healthy debt is a mortgage because you are borrowing on an asset that appreciates (except lately, but that will change eventually). Any debt used to purchase a depreciating asset (furniture, cars, computers, etc.) is unhealthy, credit card debt is worse, and payday loans are the worst. |
|
Sahara
|
Healthy debt refers to when you can borrow someone else's money and use it to earn a higher return (more than enough to cover the cost of the debt). Margin accounts in a brokerage account is one example. Borrow money to buy stock. You borrow at a rate of 6% and earn a return of 12%.
You made money and you didn't have to use your own money.
Credit card debt is very bad debt. You should strive to pay off your account monthly if you have one or if you can't, pay it off quickly and then cancel.
Mortgage is ok because of the deductibility factor on income taxes but there is a limit. 100% financing is bad.
80% financing is ok.
I don't like car loans. Pay it off asap. It's better to save and pay cash.
When you borrow money, you are borrowing from the future. |
|
butterfly
|
I think once you get a steady full time job, with a small credit card limit--that you are making on time payments on, or even have a good credit status on your bills, then I think you would have a good healthy debt. |
|
countryguyhfc
 |
For a student with no steady income, there is no "healthy" debt. If you were fully employed, you might want to purchase a car or furniture with a loan to establish a history of paying debt back on time with no late payments. That would be considered healthy debt. Or a loan to purchase a home and making all of your payments on-time would be healthy debt. |
|
googie
|
To me " healthy debt " would refer to any obligation for money owed for whatever reason, whose repayment was within the financial means of the borrower. |
|
prodigychild_21
|
Healthy debt involves anything that is tax deferred. This is especially true for student loans since you said you are a student. If you have taken loans you will generally have 6 mos until you have to repay after graduation. As you pay your student loans the interest becomes tax deductible when taxes are due, it actually lowers your income giving you a bigger tax refund. Homeownership for those who are not hurting by the situation in housing right now can also claim interest as tax deductible. I have both student loans and a home, so when tax time comes believe me, this tax deductible items help me out a lot |
|
Alice
|
I think that Healthy Debt is anything under 5,000 if you haven't just bought a car or house, what I mean is credit card debit etc..but if you have just purchased something large like a car or house then that debt is what it is and you knew what you were getting. I just bought my first car and have a couple of credit cards (I just graduated college) and I'm about 25,000 in debt and I don't think that is too much! I guess it just depends on how you feel about it and if you think you can get out of it one day! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 7 minutes(s) ago
| | | |
12 | 40 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 5 hour(s) ago
| | | |
13 | 7 hour(s) ago
| | | |
12 | 11 hour(s) ago
| | | |
11 | 2 day(s) ago
| | | |
12 | 3 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
