Quote:
Originally Posted by Deegee
Bloody hilarious to me that there is still an argument about debts being a liability or not. You can have a positive net worth, but a debt is a liability. When you write out your net worth, what side do you put loans on? Asset or liability?
Unless your lending out money yourself, I don't see a lot of loans falling on the asset side.
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I don't think (Hope) there is anyone on here that doesn't understand what side of the balance sheet debt goes on. But there are people who are saying that debt isn't necessarily bad. It certainly isn't the most important factor in determining someone's financial health. ie. you can't look at two people and say that the one with more debt is always worse off.