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Debt, like most things, can be used responsibly or irresponsibly. Starting a business or buying a home often requires debt. When utilized wisely, the burden of paying off the debt is more than offset by profits or reduced expenditures.
Think of it this way; if you were to begin earning an income as an Uber driver, you could rent a car with cash on hand without going into debt, but pay more in the long run. Or, you could take out an auto loan, which has a high upfront cost, but in the long run is the cheaper option.
Debt becomes irresponsible when it's used to pay for nonessential goods such as flat-screen TVs or trendy clothing.
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