(865) 357-7370 kim@sdp-planning.com

Not really. Debt against an asset that could appreciate, for example, real estate, can be good debt to hold for a variety of reasons. Interest could be tax deductible, and long-term interest rates could be low enough that leveraging the asset for a period of time may be more cost-effective than actually paying it off.

However, short-term, revolving debt, like credit cards, is generally not a good idea to keep on the books, since this type of debt is usually very high interest, NOT tax deductible, and usually for things that do not appreciate in value.