Worth getting into debt for?

Xenomorhic

I thought that this was the place on the forum where people would most be able to answer this question for me, and have the most valuable insights.
I've got a little bit of a dilemma here.

What is worth getting into debt for?

Do you have something that you got into debt for which you now regret having? Or are you paying off something that you do not regret buying at all?

I'm contemplating paying just over 2 grand for a course next year, would rather not be too specific at the moment, but it is for something I'm laying the foundations for through my studies now. It would be a step towards a job I really want. But I hate the throught of being in debt. I am 27 now and managed to stay debt free all through uni by working my socks off- always in fairly random jobs, not really related to what I'd like to do. I think I could save up some of the fee, but I'm estimating I'll need to get about 1,500 from somewhere else.

So is your education worth getting in debt for?

What else is, a car, a house... holiday of a lifetime? Nothing at all based on how things have been for you?

Hope everyone has a good Christmas and happy new year.

roswell

You could look at it as investing in yourself to make more money if thsi is what it will do in that case is it really a debt? or an outlay for an asset?

southernscouser

For me there are a couple of types of debt.

Firstly there is my debt! Stupid amounts of money, borrowed at stupid rates of interest, spent on stupid amounts of stupid stuff by a stupid person! :rotfl:

Then there is another type of debt. Where you look into how much you are borrowing. The cheapest way to borrow it. Why you are borrowing it?

Basically debt isn't necessarily a bad thing. If it's affordable, sensible and something that is either essential or desperately wanted then there is no reason why you shouldn't borrow. Borrowing can be very cheap in the grand scheme of things and shouldn't always be looked at as bad.

How long do you think you could pay this £1,500 back in? Would a 0% on purchases credit card be beneficial?

lynsayjane

i mostly got into debt for buying my house. my first od was to go to see nine inch nails at glatonbury, only 500 but very very worth it. then it got worse after i ought this place, but the equity in my home more than pays for my debts, i'm just trying to clear it the hard way!

so yes i think some things are worth getting into debt over, however it's a very personal thing so what is worth it to one person may not be to another.

mrcow

Xenomorhic wrote:

I'm contemplating paying just over 2 grand for a course next year, would rather not be too specific at the moment, but it is for something I'm laying the foundations for through my studies now.

It depends on whether you can qualify for your desired job without the course or not.

If you can then I'd say it's not worth it as you can start lower and train on the job.

And SS is right, it's not so much what the debt is for, but how affordable it is to you.

(Out of interest how is the job situation going these days?)