Open Question

Debt is bad.
Debt should be avoided.

But what if a certain amount of debt was incurred in order to get a job? Would you do it? What would be your limits?

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10 thoughts on “Open Question

  1. I think that just about anyone who went to college was assuming that the debt incurred there would lead to a job. Other than that it becomes a really hard call to make.

  2. We incurred an astronomical amount of debt in order for Taylor to get a good job, a job he wanted. He didn’t HAVE to have a doctoral degree for his position, but it does make him more marketable and once he’s completely done, he’ll get paid more. I think that for some things, it’s worth going into debt. Nobody wants to be in debt but let’s face it, if you’re not working, you’ll almost inevitably be in debt.

  3. I agree that a certain amount of debt is worth it. If it will help Paul get the job he wants, then it is worth it… if you just want that cute pair of shoes in the mall… not so much.

  4. I agree with the others. I think generally we should avoid debt (as in for stuff you don’t need), but a lot of times you have to “spend money to make money”. If you were starting your own business, you have to spend money to create whatever product you are offering so that you can be prepared to offer the product. If you were going to be a dentist, you have to spend money on school so you can be prepared to do dental work on people. I think it depends on what the potential for income is, how long it will take to start generating income, and how you are able to take on the debt. (bank loan at low APR or credit card debt at higher APR)

  5. I think it depends on the job. Now if we are talking Direct selling like Amway, Tupperware, Norwax etc. It is a bad idea. Not everyone is cut out to be a direct seller. It happened to me I purchased over $200 dollars worth of candle stuff and then couldn’t sell a thing and I’m not a bad sales person. Really, you should see me in action in a clothing store. Anyway my husband says that is how they make their money.

    Now if the debt is incurred because one is going to school to upgrade or regrade, then It might be worth it. If it is because you need a second car for a husband to do sales that might be worth it too. Its a case by case situation and only you can decide because you have all the info.

    Crunch some numbers, discuss payback plans and pray about it. If you do decide to take on the debt be realistic about your ability to payback. Do you want to be paying off something for 5 years? What happens if you lose the job in a year will this debt load brake you? Go into it with a plan and then work the plan.

  6. It depends what the debt is for, and what the prospects are. Education, relocation, making oneself more marketable by having a polished, professional look — these seem like possibilities where an outlay of money can bring appropriate rewards. Anyway, I know you to be a sensible person, and I would trust any decision you make to be a good one.

  7. Everyone has already said what I would have said! We’re in kind of the same situation. We can pay a ton of money to get Nathan type rated in a certain jet. But…there’s no guarantee that he’d get hired for that perfect job. So, we’re on the fence over it too. We don’t want to get into more debt. But… that long hoped for perfect job would be nice too.

  8. i always try to live by the idea that debt free was meant for me. LOL

    but next year i will be incurring all kinds of debts
    to help me be where i want to be. i’ve weighed the risks. i’ve weighed the rewards. in my heart of hearts, it is the right thing to do even if it makes the “now” more difficult. the later will be so much better.

    only you can answer this one. now is a good time for one of those lists. 2 of em. risks and rewards. if it’s a good investment… it’s not debt. 😉

  9. You better make sure you want to do that new job if you are going into debt to get there.

    Furthering our education through debt financing was the smartest decision we’ve ever made. Of course, you have to make sure you plan to leverage your education when you have graduated.

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