One piece of criticism that I always get when it comes to money is when I tell people to pay off their house.

Because a lot of people are like, what? Why would you do that? You know, having a mortgage,

that's good debt. So we're going to talk about that today. Is mortgage really good debts?

Make sure to like, subscribe, and share this episode with a friend. All right, let's define what good

debt is because a lot of people throw categories of money into this and especially into the

debt world because like it's okay. It's almost like they justify the debt because like it's

okay. It's good debt. Student loans are seen as this. You know, it's good debt. You are going and

learning and expanding your mind and taking what you've learned and going and applying it to your

job, which means you're going to make more money because of this degree, and it's going to pay off

in the long run. So that's good debt. A mortgage is the same kind of thing. Yeah, when you have a

mortgage, you know, of any kind, right? That could be like a 30-year, just right, whatever it is.

But a mortgage is good debt because your home is going up in value over time and who can,

you know, buy a house with cash, right? A business loan is seen as this. In order to grow your business, you may need to take out a loan because the cash flow is not there, but if the, you know, if you're getting customers and the customers are there, but you don't have enough money to make the product or service that you need to help all these customers, well, we got to get some money in. So might as well take out a loan, right, to go and build the service, build the product, to help the customers make more money, and so on and so forth. A home equity loan, sometimes a HELOC is seen as good debt because usually, you know, if you're using this, you're going to be going in and maybe doing renovations to your home, changing some things, adding a pool, whatever it is, and it's going to up the value of your home. So this is good debt. So again, all of this is considered good debt out there in the real world because people are like, well, it's going to pay off in the long run. And it's okay to take the risk,

to take on the loan, pay the interest, all of that, because it's going to reward us tenfold.

That's the thought. But the reality is, you guys, life does not always happen the way we want it to.

The business ends up slowing down. And then you freak out and you end up taking out another small business loan to keep the business going. And then the good debt turns into an absolute nightmare. Maybe you go to school and you go to a school that you can't afford. And you're like, yeah, student loans, no big deal. And you go take out $120,000 net and then you go out into the marketplace and you're like,

oh my gosh, I can't really find a job or you're an entry level position with someone next to you who may not even gone to college, right? And you're getting paid the same. So did it really work out or not?

So again, what can happen is life happens and when you build your life around debt and have debt,

you are adding so much

risk to your life. And so what we have to think about is that what debt really is. And so you can

look at it, you know, even from a spiritual perspective, when scripture says that the borrower

is slave to the lender, anytime debt is mentioned in scripture, it is in a negative fashion.

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