Social Question

SQUEEKY2's avatar

Would you say monthly bills, are debts?

Asked by SQUEEKY2 (20614points) 1 month ago
8 responses
“Great Question” (1points)

example: cell phone bill, electric bill, natural gas bill?
And these bills are paid in full every month.

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Answers

zenvelo's avatar

No, they aren’t debts. They are expenses. They become debts if you don’t pay them off as you accrue them.

SavoirFaire's avatar

No. In fact, @zenvelo said exactly what I was going to say: they aren’t debts, they’re expenses.

ragingloli's avatar

I would say it only becomes a “debt”, once you say “I am not paying that right now”, and they send you an overdue notice.
Otherwise, even at the checkout in a store, when the cashier tells you “that will be X €”, it is a debt, even if only for a few seconds.

elbanditoroso's avatar

Short term expenses, at that.

kritiper's avatar

My bills always come after a service is rendered, so, yes, they are debts. If I had to pay up front before a service was acquired, then no.

elbanditoroso's avatar

Let me clarify my response.

I got a car loan to purchase a new car. For the sake of my example, the car cost $40000, and my loan is $30,000.

The $30,000 is a debt – an amount owed to the bank.

When I pay them $350/month, the $350 is an expense that is used to pay off the debt.

Blackwater_Park's avatar

Like others said, they’re expenses. They can be converted to debts if they’re not paid or paid using some form of credit or loan.

JLeslie's avatar

Every month I pay off my credit cards in full. If I want to get a mortgage, anything I currently owe on the card is viewed as debt, even though it will be paid in full according to my history of always paying in full.

Monthly expenses are a debt in my opinion. At any given time you owe a balance for utilities or cell phone unless you pay off what you owe and stop that expense altogether.

At the same time I say I live debt free when I have no mortgage and no monthly car payment even though I have other expenses.

So, I think context matters.

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