Sorry Chris,

I wasn't actually meaning to make that statement towards you.. I meant to make it more as a blanket statement towards my friends how are always broke and yet, always seem to find a way to finance a 10 year old mercedes at 18% interest over a 8 year finance period..

My point should not have been directed at you. And there are lots of types of credit debt that are good. Like you mentioned, a home mortgage, which can be used as a significant tax write off.

Just last week, I helped a friend calculate, that he has 4 credit cards that he never pays on time. In late fee's alone, that's between $80-$100 bucks a month he could be saving, just by paying things on time. That's $1000-$1200 a year!
And he's at 20% interest.


Sorry for the rant..
B

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