link

Jan 30, 2023
3:36:26pm

flyzag All-American

link

Consumer Debt: Understanding the Pros and Cons

Consumer debt consists of personal debts that are owed as a result of purchasing goods that are used for individual or household consumption.

https://www.investopedia.com/terms/c/consumer-debt.asp

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flyzag

Bio page: flyzag
Joined: Nov 15, 2010
Last login: May 1, 2024
Total posts: 5,059 (0 FO)

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Messages

Author

Time

<< Deleted >>

materialized

1/30/23 3:32pm

Wow. I hope people are misreading this question.

kccougar

1/30/23 3:33pm

Looks like I was the one misreading.

kccougar

1/30/23 3:33pm

Slightly confusing because I don’t normally consider mortgage “consumer debt”

sidsie716

1/30/23 3:34pm

link

flyzag

1/30/23 3:36pm

You don't consume a house though

paulb

1/30/23 3:37pm

Didn’t think so either but that definition includes them.

Soupie

1/30/23 3:41pm

Yeah, I just don't like their definition.

paulb

1/30/23 4:10pm

Are you talking credit card debt? Or including mortgages?

Chasicle

1/30/23 3:34pm

<< Deleted >>

materialized

1/30/23 3:35pm

Debt with collateral is quite different than credit card debt. The two aren't

Chasicle

1/30/23 3:37pm

Yep someone with a 300k mortgage on a house worth 800,000 is significantly

johnnybyu

1/30/23 3:47pm

Might consider debt relative to income. $50k of debt is crushing to some and the monthly charge card payment to others.

Tokolosh

1/30/23 3:37pm

Poll fail - mortgage isn't consumer debt imo

FiveTen-BuckEighty

1/30/23 3:38pm

actually it is. see link

flyzag

1/30/23 3:39pm

RE: actually it is. see link

flyzag

1/30/23 3:39pm

I think it's a valid question as yes mortgage is consumer debt but it's not

flyzag

1/30/23 3:39pm

And this is why they are often separated. Depreciating debt vs appreciation debt

Nat Gas Man

1/30/23 3:44pm

You won't get accurate results on this poll. Some will include mortgage debt and

PCCoug

1/30/23 3:43pm

I've never considered a mortgage as consumer debt until this poll.

BYUfan92

1/30/23 4:46pm

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