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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 468101" data-attributes="member: 12570"><p>All good points but for some of us a certain amount of debt is unavoidable. Of course, no debt would be ideal, but there is good debt and bad debt. Good debt would include my mortgage and student loans, the first being an investment in my future and the second being an investment in my children. Bad debt would include credit cards which, I have to admit, I sometimes have a hard time keeping control of (but am getting better at) and installment loans on my car and furniture.</p><p> </p><p>That being said, I am most certainly going to take advantage of all of the legal deductions that I am entitled to based upon my individual situation. As I said before, we used to be able to deduct personal interest (credit cards) but are no longer able to, which I see as a good thing as I think it actually encouraged credit card use. </p><p> </p><p>Do I wish I were debt free? Absolutely and I am working hard to get to that point. Until then, I am going to do all that I can to take advantage of any and all deductions to which I am entitled and to continue to work hard until I can join you in the "debt-free" arena.</p><p> </p><p>On a side note, Sat, I enjoy your posts as you bring a sense of realism and common sense to this forum, and I thank you for that.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 468101, member: 12570"] All good points but for some of us a certain amount of debt is unavoidable. Of course, no debt would be ideal, but there is good debt and bad debt. Good debt would include my mortgage and student loans, the first being an investment in my future and the second being an investment in my children. Bad debt would include credit cards which, I have to admit, I sometimes have a hard time keeping control of (but am getting better at) and installment loans on my car and furniture. That being said, I am most certainly going to take advantage of all of the legal deductions that I am entitled to based upon my individual situation. As I said before, we used to be able to deduct personal interest (credit cards) but are no longer able to, which I see as a good thing as I think it actually encouraged credit card use. Do I wish I were debt free? Absolutely and I am working hard to get to that point. Until then, I am going to do all that I can to take advantage of any and all deductions to which I am entitled and to continue to work hard until I can join you in the "debt-free" arena. On a side note, Sat, I enjoy your posts as you bring a sense of realism and common sense to this forum, and I thank you for that. [/QUOTE]
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