Debt is Like Milk, 2% is Really the Best. The Best Home Equity Loan is Ziltch

Debt is dumb. You can not convince me otherwise unless you are borrowing to run a business. A business is an investment that is intended to make a profit. If you have a great business model and the one thing keeping you from starting up and making money is capital, then debt may be needed. Otherwise, debt is dumb. Personal debt is acquired for many reasons but most often it is because of a lack of discipline. People want things NOW. They will not wait a few months or years until they can really afford the stuff so they do the irrational act of borrowing money. You may say a home is a good reason to go into debt. I went into debt for a home as most others do, but to say it is GOOD is wrong. I truly believe that a home that you plan on living in will not make you money. Once you factor in the interest paid for the loan, the real estate taxes, upkeep & maintenance, improvements, insurance, will be lucky to break even when selling. In the long run it is cheaper than renting, but don't be fooled into thinking that home ownership is a good investment.  Live within your means (actually live a bit below your means) and save/invest the difference and your future will be better than 98% of Americans. Yes, only 2% of Americans have no debt.  No house payment, no car payment, no loans of any kind.  Those 2% are living like no one else.  What would you do if all your money was actually your money? Start to think like this and then the whole debt is dumb idea makes a whole lot of sense.