in Credit Cards, Debt Reduction, Debts

 

Floor is Opposite of Ceiling?

I guess that could be the new buzz phrase amongst finance folks, is to call the point where you are financially solvent and no longer in debt the debt floor? I assume that if the Debt Ceiling is the top of your usage of your debt vehicles then logically, the debt floor must be zero or when you no longer have debt? Maybe I am mixing my metaphors here, but that seems to be the obvious comparison to me.

Debt floor sounds much more interesting than debt free doesn’t it? Everyone (including me) keeps harping on about being debt free, but wouldn’t it sound even cooler to announce to your friends that you have reached your debt floor? It could be the new chic thing to talk about at the water cooler, about how close you are to your debt floor? I suppose Debt Minimum could also be in context here, but it really doesn’t sound as cool as your debt floor.

It could sound tough and exciting about how you smashed through your debt floor (like Rambo or something), but it also sounds very balanced and even, because you are now on solid ground and you are no longer flying upwards towards a certain calamity? OK, I am waxing poetic on this one, but you get what I mean?

Is there a better turn of phrase for debt free than a Debt Floor?

 

{ 2 comments }

  • Rachel Levington July 15, 2011, 8:53 AM

    I like your analogy on Rambo crashing through your debt floor! The term ‘debt floor’ makes perfect sense to me as everything has an opposing side in life. You could even go a level deeper to being financially solvent and clear of all debt with the term ‘debt basement’, perhaps? I like the thought of the debt basement, but debt floor rolls off the tongue easier!

    Reply
  • Bankurptcy Ben July 14, 2011, 8:06 PM

    I always thought that should be a section of dating sites. Debt Status.

    Reply

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