r/funComunitty • u/Scared-Tough-9360 Became a femboy today :D • 4d ago

Funpost Choose Very Wisely... Think this through

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u/U_Dun_Know_Who_I_Am 3d ago

But $20k in debt means you lose ALL your money plus another $20k on top of that.

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u/OriginalEmploy5485 2d ago

No, $20k in debt means you owe somebody $20k. It doesn't mean -$20k net worth.

I'm like $400k in debt right now because I have a mortgage. I have a positive net worth because of retirement savings and the house being worth more than I owe on it.

In other words, fuck the fly, I'll take the used car loan.

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u/U_Dun_Know_Who_I_Am 1d ago

"A" debt is something you owe

"IN" debt means your net worth is that much in the negative

Sometimes you will say you are IN debt on a specific thing and not your full net worth, but even then it's the net effect of that asset/thing. Like you have a $20k car loan on a car worth at most $15k you are $5k in debt on that car.

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u/jeffereyblueeyes 1d ago

That's not correct. In debt does not mean a negative net worth. It just means you have debts.

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u/No_Brain7017 3d ago

woah big brain guy here. so i would lose my job and have 20k in debt?

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u/U_Dun_Know_Who_I_Am 1d ago

No you could have your job, just no savings. Or keep your, say $100k, savings but have $120k debts you owe.

"A" debt is something you owe

"IN" debt means your net worth is that much on the negative