[bphogan]

Responsible adults manage debt. In my opinion it's a sign of immaturity to exclude funding sources available to you to accomplish goals. If the goal is starting a business, borrowing money to do so helps you get to market. If you have employees working for you and you cannot make payroll because profits were poor as you start, borrowing money to make payroll keeps you afloat.

On a personal level, buying a house might be more than you care to take on. But with a mortgage, you can certainly predict what your payments will be for the next 10, 15, or 30 years.

And it can be renegotiated when interest rates drop.

Understanding this is what makes people responsible adults. What makes them irresponsible is buying things on a whim on credit and carrying large credit card balances. That is indeed a great way to ensure a stressful life.

[kmonsen]

The tax rules also favors mortgage debt substantially.