4 ms·
If you are deep in debt, you are not middle class.
by Merrill 7y ago
If you are deep in debt, you are not middle class.
- simonebrunozzi 7y agoA bit pedantic, I guess. I interpret the title as "getting deep in debt to continue living like someone in middle class"
- deleted 7y ago[deleted]
- phil248 7y agoYou just expelled every family with a mortgage or a car payment or a student loan from the middle class. You also radically redefined the concept of "middle".
- mattferderer 7y agoI didn't down vote but I think the clarification for "deep debt" would not include a low interest home mortgage or a car payment which you can also get as low as 0% interest on. Also many people have a student loan debt that can easily be paid off in a few years. On a side note, I think all the above are excellent ways of debt. Right now you can get a mortgage for under 4%. Mortgages typically do not compound interest. So it makes more sense to dump your savings into one of many savings that pay a similar interest rate or higher & do compound interest. Many car dealers have 0% interest if you want to buy your car & not lease. Of course any education debt that gets you a salary much higher than the debt makes sense as well.
- deleted 7y ago[deleted]
- firstplacelast 7y agoUnpopular opinion: If you can't afford to buy the crappiest home within a somewhat unreasonable commute to your office, you are not colloquially middle class. While you may fall in the middle of the distribution, when most people say 'middle class' they mean you have a reasonable amount of stability and security in your life.