return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 30 days agoWhy do Americans pretend they're not broke when most Americans are in debt?message-squaremessage-square91fedilinkarrow-up1327arrow-down125
arrow-up1302arrow-down1message-squareWhy do Americans pretend they're not broke when most Americans are in debt?return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 30 days agomessage-square91fedilink
minus-squarePerspectivist@feddit.uklinkfedilinkarrow-up52arrow-down1·edit-229 days agoBeing in debt isn’t synonymous with being broke. I could pay off my house tomorrow if I wanted, but financially it doesn’t make sense - so I keep the debt. That doesn’t mean my net worth is negative or that I don’t have disposable income.
minus-squarelogos@sh.itjust.workslinkfedilinkarrow-up1·edit-228 days ago I could pay off my house tomorrow… That’s not what being in debt is
minus-squarePerspectivist@feddit.uklinkfedilinkarrow-up1·28 days agoIs it not debt when you owe money to the bank?
minus-squarelogos@sh.itjust.workslinkfedilinkarrow-up1·28 days agohttps://www.moneymanagement.org/blog/what-does-it-mean-to-be-in-debt
minus-squarePerspectivist@feddit.uklinkfedilinkarrow-up1·27 days agohttps://www.merriam-webster.com/dictionary/debt
minus-squarelogos@sh.itjust.workslinkfedilinkarrow-up1·27 days agoI’m just telling you the meaning of the phrase ‘to be in debt’ vs having some debt. I didn’t invent it.
Being in debt isn’t synonymous with being broke.
I could pay off my house tomorrow if I wanted, but financially it doesn’t make sense - so I keep the debt. That doesn’t mean my net worth is negative or that I don’t have disposable income.
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That’s not what being in debt is
Is it not debt when you owe money to the bank?
https://www.moneymanagement.org/blog/what-does-it-mean-to-be-in-debt
https://www.merriam-webster.com/dictionary/debt
I’m just telling you the meaning of the phrase ‘to be in debt’ vs having some debt. I didn’t invent it.