system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: So 'when' the next financial crash happens, is it better for the average US citizen to owe lots of money or to owe no money to anyone.
gpt
Owe money to no one of course. Debt = Risk. If you owe 150,000 on your house, 10,000 on your car, and 15,000 on your credit card and lose your job and can't quickly find another you will be bankrupt. All your savings and assets (if any) will go to paying off your debts. If you own your house, your car, and have no other debts, you can keep your house, your car and will have very few expenses. A few side-jobs or your savings will likely get you by.