Question: If I have a lot of debt is inflation a good thing? 

Answer: Yes.   Inflation basically boils down to that money today is worth more than it is tomorrow.  As inflation goes up, the value of the debt decreases.  So you are paying off the same amount of debt, but it is worth less.   That's why when inflation goes up, interest rates go up - to compensate the creditor for the lost value.\n\nGenerally, wages go up with the rate of inflation...but the amount of your debt does not.  So while the buying power of a single dollar is less, your total buying power (hopefully) stays the same.  \n\nOf course, no one wants hyper inflation.  But it is a great way to get out of debt.
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