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Jennie Mustafa-Julock's avatar

“You don’t have to forgo the things you need to live a healthy and happy life just to avoid taking on debt.” I love that you are saying this, but why does it seem like you’re the only person sharing this truth? Great article! 

Dana Miranda's avatar

Thank you! And good question! I don't know. I can say it took me seven years into writing about personal finance to feel confident saying it, and it's still scary to be a personal finance expert telling people they can take on debt. So I imagine there's a lot of fear of steering people wrong, even for those who know intuitively that the prevailing messages about debt aren't good for anyone.

Jennie Mustafa-Julock's avatar

Thank goodness you found the bravery to speak up on this topic. It’s so needed...and maybe other experts in your field will catch up soon. 

Lewis's avatar

I think debt is something you should only take on if it's to invest in something that will return value greater than the cost of the debt, such as a house or stocks (though the latter, only during booming markets and if you know what you're doing).

Regarding the title of this article, i would disagree... there are very few situations in which you shouldn't have a household budget, such as, if you are rich or if you have an untouched income stream that cannot deplete, such as a managed trust.

I recently wrote an article on elevating your budgeting skills into a full on financial plan. If you get the time, please take a look, perhaps i might change your view on the subject of budgeting.