Brian from DebtDiscipline.com posted an interesting article about the 20% of Americans who do not have debt. He says:
According to a recent report published by the Urban Institute, 20% of all Americans with a credit file do not have any recordable debt. Sorry my Canadian friends, this is a U.S. only report. So I ask are you part of the 20 percent? I’m not yet, but have a plan on getting there. The report breaks debt down into two main categories mortgage debt and non-mortgage debt. Non-mortgage debt including many types of personal debt, including car loans, education loans, and credit cards. As well as uncollected debt such as medical and utility bills.
Brian goes on to talk about where people are most in debt and about good debt and bad debt. It is a good discussion. Check it out and let us know what you think about debt.Wishing you well,
Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.