ericbomb

@ericbomb@lemmy.world

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ericbomb,

I mean most people saying they don’t have any bad debt, but saying they have good debt isn’t too bad! It is interesting to know how much mortgage people are carrying.

But these days even mortgages feel bad. 400k at 7% is 28k of just interest. So houses feel way out of reach with current prices/rates.

If rates go down prices go up. So doesn’t feel like there is much winning for non home owners.

ericbomb,

7% per year yes.

28k per year in interest on just a normal home is crazy.

ericbomb,

Well congrats on no debt! hopefully you’ll find a good deal somewhere!

ericbomb,

Hey man as long as it’s getting smaller, it’ll be gone eventually!

ericbomb,

If it’s not murder house in middle of nowhere, it’s out of budget.

Like tiny homes are becoming a thing… but like smallest legal home lots are 250k in most cities. Feels like middle of nowhere is only place to be.

ericbomb,

I mean if it can be paid off with fun money and doesn’t ruin retirement plans, not the end of the world if the interest rate was good!

ericbomb,

Oh that sounds stressful. Hopefully things work out as that feels like a lot.

ericbomb,

Oh that’s great! Sounds like you’re rocking.

Don’t know where you live but in the US any home near a city is like 400k, so having a mortgage at low interest at 80 sounds great.

ericbomb,

Almost out of that trash debt then you can focus on your goals friend!

Hopefully things are looking up!

ericbomb,

Oh that is so hard to hear!

It’s crazy that parents are still forcing kids to go to college when it’s been documented a billion times how often people are getting no benefit but tons of debt.

ericbomb,

Yeah sounds like you’re in a great spot with the interest rates and balances!

ericbomb,

The top post is “salary needed to buy a home” is just depressing. But great call out.

ericbomb,

I have a meme for you: lemmy.world/post/6902250

ericbomb,

Smooth moves!

Super good job on getting that under control.

ericbomb,

TLDR: Low interest debt that provides long term financial gain is good. Mortgage for primary residence is almost always considered good. Loans to invest into your home that increase its value and make it more reliable/long standing is good. Low interest debt to buy assets for your business is good. Reasonable loans for college is considered good.

Car loans are a bit harder because they lose value as time goes on. But a small loan with good interest is usually considered fine for a car. Buying a brand new car with a loan will almost always be bad, since you’re paying interest to use a depreciating asset. But basically a car loan is always bad if it ever goes upside down, meaning you owe more on the loan than the car is worth. New cars that happens almost instantly.

Basically all other debt is bad.

experian.com/…/good-debt-vs-bad-debt-whats-the-di….

ericbomb,

I played master duel for awhile and played Eldlich with skill drain to try and prevent “cut scenes”.

But, can’t do anything if I don’t have hand traps and they go first.

ericbomb,

Oh hush you 🤣 I was tempted to say “besides nothing” but I was like, surely lemmings are more creative than that and I don’t need to say that!

ericbomb,

Update: Amazon sells beginner guitars for $30.

They probably sound like trash, so even better.

ericbomb,

Todo: order bunch of cheap guitars, learn to play a song really badly, have friend take guitar and smash it at parties.

We can take turns being the guitar smashing hero and become legends.

ericbomb,

I stg did they buy all the debt cheap because everyone else was worried it was going to be canceled or something?

ericbomb,

Ahh yes, how could I forget the Moe subreddits.

Not as inspiring as real athletic women. But still very common and athletic.

ericbomb,

Ahh bit too horny to be okay showing up all the time then.

ericbomb,

I can’t find those! What instance are they on?

ericbomb,

You can do it affordable housing!..

Please ran faster, please. Why are you pulling out your phone?

ericbomb,

Long bows were much more powerful than most cross bows.

Crossbows were easier to use though. First crossbows were seen in 500 bc and never really vanished.

Long bows in a trained archers hand was just better.

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