In Debt? It’s Not All Doom & Gloom

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Written by Michael Foote, founder of Quote Goat, has over 13 years experience working in the finance, insurance and currency sectors.

Debt. It’s a scary word for most. The idea of having money owing in your name to other people or companies can be a frightening prospect. There is an awful lot of news and debates that go on about the debts of those in the country and the national debt in general. This constant debt news can put utter fear into people that if they owe money, they’re going to be at the mercy of bailiffs and other scary men at the door. So, what would you feel if we told you that, actually, some debt is good?

We know, how could we say that to owe money could be a good thing? Well, too much of the wrong kind of debt is obviously not going to be a positive in life, but there are times where debt is a good thing. It can also be argued that it may be irresponsible to not have some type of debt at some point in your life. Debt is something that can be invested in the future, and investments really do count. Not having any type of credit at all with companies like can be detrimental to you if you choose to buy a house, gain a mobile phone contract and even get something on finance. Which, by the way, is another type of debt. There are some instances that debts are a positive reflection on you, and here are some of them:


A mortgage is a huge debt. Thousands of pounds are straddled alongside your main bank account as money owed to the bank. Effectively, until that mortgage is paid off, the house isn’t entirely yours. So, having a mortgage and the capability of getting a mortgage shows an enormous trust with the bank and also gives you a tangible asset for your future. Good debt? We think so!


Student loans: If you plan to go to university or even a college abroad, you will be aware of the student loans you’ll be taking on to pay for tuition and living expenses alongside a job you may have. This type of debt invests in your future career and the whole experience of being in college and gaining that higher education can help you repay that debt a whole lot faster.

Home Improvements

Pouring money into your home is a smart way to spend your money and taking out home improvement loans to jazz up your house can ultimately add value to it. There are some improvements that people make that do not make sense, but making improvements to add value to the house are intelligent and make you back your money in the long run.

See, debt doesn’t have to be something that is bad, dangerous or stressful. Sure, a mortgage isn’t going to be all roses all the time, but what you get out of it can be. There’s nothing wrong with making smart financial decisions that can change your life and sometimes debt is one of those choices.

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