Dear Dave,

Why do you think all debt is bad?

Aren’t some kinds of debt, like a mortgage or student loans, good?

Nathan

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Dear Nathan,

It sounds like you’re letting me know you think some kinds of debt are okay, instead of really asking for my opinion.

When you ask a question that’s really a statement, it’s called a passive aggressive question.

That’s okay.

You and I will now argue as best we can in a newspaper column.

It’s not necessarily a question of what I think.

I’m really just the aggregator of information we’ve gathered while walking with people through their financial issues.

I’ve worked with tens of thousands of folks over nearly 30 years, everyone from billionaires and millionaires to broke people, and those in between.

In the process, we’ve collected a lot of data through formal research projects — I’m talking about a huge stockpile of statistics, facts, and figures.

And all that data shows debt is the biggest roadblock between people and wealth. I’m also a Christian. Having read the bible, and what it says about money, I can tell you there’s not one place where it says debt is a good idea.

So, all that information leads me to one conclusion.

Debt is not a positive thing.

The only kind of debt I don’t beat people up over is mortgage debt, as long as it’s a 15-year, fixed rate loan.

Houses are wildly expensive, and I understand that most people can’t save up to buy a home with cash in a reasonable amount of time.

Still, that doesn’t make mortgage debt a good thing.

Any kind of debt is a burden, Nathan.

It steals from your ability to save, build wealth, and be generous.

—Dave