Some words just have a bad connotation. While others are riding high with positive brand awareness. Good debt straddles the middle.
For some, all debt is bad or evil or unnecessary. That is how it sits in the bad camp. However, those in the know about debt are happy to have good borrowings in their portfolio.
Generalisations do not help. Often as we get closer to the specifics of a topic we split off into different perception points. This is helpful. We can then better understand our position. Ideally we wouldn’t carry any debt for any purpose. Although, a little bit of borrowed money to help build a company, buy assets and get your future flowing, can be a good thing.
It is always interesting to me when people react to the word debt. It is a word many people want to clarify, if they do not condemn it straight away.
Many people have a difficult personal story involving borrowed money. It is not uncommon for people to have been in sizeable challenging positions when they were young. And unfortunately it is usually bad borrowing that they have collected.
I am trying to raise the awareness of debt, both good and bad, money, finances and life options. That is why I host Money Mindset Monday at 10:30am UK time on Clubhouse. My co-hosts / co-moderators are great and people get a lot of value.
In the meantime, get to know good debt.