What an idiotic OP (in the picture not you). Go into debt over a status symbol with as much utility as a $10 substitute. Yes, brilliant advice.
Same as all the muppets in the city dressed up to the nines in their new beemer than you know is on monthly payments.
On the other hand; being debt free, now there’s a status symbol…
Being debt free one of the few status symbols you cannot see. At that point, is it a status symbol if other people cannot see it?
I mean, I still agree though. Be debt free, seriously.
Not if you get it printed on a t-shirt!
As someone starting up a custom t-shirt printing business desperately in need of building a customer base, I condone this message.
being debt free
I know a few people who are definitely not in a hurry to pay off low-interest mortgages from 2020 and 2021, but I suppose that they’re already in a very different financial position from the people who might consider going into debt for a watch.
Can’t take the house with you when you die so the less you end up paying the better in a way, unless you have someone to pass it on to like kids
Those mortgages have an interest rate of less than 3%, but now the returns on even low-risk investments are higher than that, so the borrower is better off investing the money, using some of the profit from that to pay mortgage interest, and keeping the rest.
Even more: an interest rate of <3% is basically blown away by annual inflation.
That assumes your salary goes up with inflation, though.
