The OP just asked about debt, debt isn't intrinsically good or bad. I'm finding it fascinating how many people say they're debt free when they carry debt. Are they embarrassed that they make logical decisions that include holding debt to increase NW faster? The attitude of defending oneself as debt free is funny, some of the wealthiest people on here have the highest debts.
I bet Arebelspy has a lot, just a guess, and he's going to retire way before me. Debt has been very good for some. MMM paid off his last debt 2 years after FIRE, a very smart strategy for his family.
I was questioning how one approaches the notion of debt in the first place, I don't understand why others have been quick to assume there is some sort of emotional baggage that comes with that.
Debt as defined in this thread directly affects cash flow. If you own a home (as most people that have replied do), then the monthly budget is taking a significant hit. A rental unit, as in my case, increases that outward cash flow. If my rental were empty I would surely be feeling that. And if you have cars or credit cards on top of that???
I contend that is certainly
one way to look at things, and it has definitely impacted the way our family budget works. Rather than increase our investments, we have been aggressively retiring the mortgages, or getting "out of debt". Some would argue that with interest rates below 4% this is a fool's errand, I would counter that I already have enough (too much?) exposure to the stock market and this financially conservative play is prudent in our case.
On the other hand, I have been what I define as "in debt" before - having a net worth of less than zero. This changes how one approaches life dramatically compared to carrying mortgage balances but being significantly positive. So, for me anyway, when someone talks about carrying debts I tend to subjectively define that as being financially underwater. Someone who bought a home in 2007, has 30,000 cash in the bank, but is still 100,000 underwater on their mortgage is in a far different position than a person with 3,000 in the bank but 100,000 equity in their home. The latter has options, the former has issues. Both are "in debt".