I ran accross this article on Yahoo Finance and I cannot believe it giving the state of the economy. There are 6 main points to the article, good debt vs bad debt. Really…? Is there such a thing as good debt? Why in the world would you ever want to owe something to someone? I am in that place where I owe money to a bunch of different businesses and I hate it.

I understand the logic of the article and I could rationale almost all of his points, but seriously, NO debt is good debt. Debt is BAD, mmm kay?

6 Financial Moves That Sound Good — but Aren’t
1. Applying for a Line of Credit
Yeah, it’s stupid. We all have done it and we end up paying big time. There is always a new thing that must be had, something breaks, or I need it now and I don’t have the discipline to save for it. *I am guilty of all of it*

2. Withdrawing From Your 401(k) or Retirement Savings to Pay Down Debt
Yup, dumb idea. I did it. I cracked under financial pressure and now have $0.00 in my future retirement savings.

3. Choosing Only the Safest Investing Vehicles
How is this a bad financial move? If you buy used *ahem* with cash it is a great idea. You spend less on repairs, less worrying on if your jalopy is going to leave you stranded, and if you resell it it might have some residual value.

4. Avoiding Debt Altogether
Wha What? She can’t be serious can she? Her only examples are taking out a mortgage and student loans for being good ideas. Listen, I have both and they stink. You can avoid student loans by working in college, I didn’t, but if I had a time machine I would go back and do it. I would also rent a HOUSE, not an apartment. No one ever mentions the constant home improvement projects and repairs that are needed once you own a home. The utility bills that go way, WAY up in the winter with the gas prices and the pleasures of raising taxes every year making the home you purchased soon to become borderline not affordable.

5. Cutting Your Variable Spending
I agree here.

6. Paying Off a Major Loan in One Payment
Is she mad? Get that debt out of your life, move on from it. Why keep it around like a little lost puppy? That thing is a %^$#^% leech, a parasite, and wants to kill you