Quote:
Originally Posted by inBOIL
Living above your means is not the same as going into debt. In the example you give, going into debt is often a good idea. To me, "living above your means" means taking on debt for the purpose of living luxuriously, as opposed to fulfilling an obligation or investing in your future.
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And the person who has an expected future income as a Doctor, but is currently in extreme debt, deciding to go further into debt to buy a nice home?
Or the person that convinces a loan officer to lend them money that they cannot certainly pay back, and being perfectly willing to go into bankruptcy if things don't go the right way? (and meanwhile gets to live more comphy)
Which is unacceptable?