4 ms·
Always looks at the interest rates. Credit card debt can go over 20% APR sometimes and should be strictly avoided. A mortgage is more like 3% and can work in yo
by swebs 6y ago
Always looks at the interest rates. Credit card debt can go over 20% APR sometimes and should be strictly avoided. A mortgage is more like 3% and can work in your favor since its better to pay into that than rent. I would tolerate auto loans as well.
- mikestew 6y agoI would tolerate auto loans as well. Tolerate, maybe, but I avoid going into debt to acquire depreciating assets. Even if the loan interest rate is zero, the rate of depreciation needs to be accounted for, even though I don't get a tax deduction for the depreciation of my personal car.