Debt-Free Definition

Fruit_and_Nut_Case

therixonator wrote: »

...tactical CCs...

What a glorious term; must remember that :T

G6JPG

ratrace wrote: »

[]

(no such thing a good debt) Great minds think alike:rotfl:

If you even class it as a debt, I'd say the student one is a good one. As others have said, there are actual disadvantages to paying that off early - I don't think that applies to any other sort of debt.

(As to it being a graduate tax in all but name - at first I thought "wow, that's correct!", but I think you incur it as soon as you get any of the loan, and - in theory! - have to pay it back even if you don't graduate at all [although you're probably then less likely to reach the threshold anyway].)

G6JPG

moohound wrote: »

[]We have a number a bills that are paid manually and to be pedantic when we receive an invoice for our caravan storage or school sundries like milk and after school care, until its paid it is a debt, even though we pay it promptly and have the money available.

That applies, really, to anything you get on credit - such as (unless you're on a prepayment meter) gas and electricity, water, and arguably council services (though I suspect most of us pay those last on a sort of PAYG basis).

It's virtually impossible not to incur debt of this kind, though most of us probably don't think of it as that. (Oh, hang on, I suppose if you pay by DD and let them guess the amount for you, it might not be debt for parts of the year, probably summer.)

Serendipitious

I agree that all debt is debt. Equally, however, all assets are assets.

So maybe we should count our assets more often. The balance sheet is the best indicator of how things stand.