I don't understand people who are just ok with being in debt, it makes me feel incredibly uncomfortable. How can you be comfortable when you have thousands and thousands of dollars in debt over you all the time?
Discussion
If you find the answer to that question, I would love to know it because I'm the same way. I have made sure that any debt I do have is something I can handle without having to stress about it and I would not even think about taking on more debt than I could handle.
Probably because over the last 50 years people have been conned and brainwashed in to thinking debt is good and virtuous and the more you have...well, you're clearly a better and more trustworthy citizen then, aren't you?
Depends if you also have assets to cover the debts. Most don't, or have no idea how to use those assets to manage their debts. It matters if the assets are appreciating or depreciating, and the risk of losing the asset. For instance, cars make horrible assets. The rates and terms of the debts also matter. Generally, credit cards are high interest revolving debt, which is far inferior and much more uncomfortable to manage than fixed-rate low interest loans. Finally, cash (flow) is king. If you have the cash flow (for most, income) to manage the debt payments with no impact on your day-to-day life, and your cash flows are stable and relatively low risk, there is little to worry about month to month.
Responsibility vs lack of responsibility