The problem with being too relaxed as a debtor.

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(Edited)

I believe you all know that 'A Lannister Always Pays His Debts', right?

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I've been in the GOT mode since this week and I thought I should highlight that famous lofty quote from the Lannisters. I believe we all can learn important lessons from that in our day-to-day financial activities.


Debt? What a tool that can be!

The wise players in the financial sector see debt as a tool that can be used to build wealth. When they borrow, they do it to use the money and generate more wealth within a reasonable time before paying back what they borrowed.

The idea of paying back as soon as possible is what makes the difference. Once you borrow while having a solid debt settlement plan, it makes it easier to get into debt without allowing the notion of being a debtor to harm you or your reputation in any way.

You see, it's only fair for all debtors to settle their debt even if what they are owing is a quid. Unfortunately, so many people do not see being a debtor' as one of the things that can bring harm to them.

Lend them $10 and they will never return it until you take them to Court. Haha.

Imagine that!


The problem with being too relaxed as a debtor;

I believe you must have noticed that some people borrow to pay back while others borrow and hope you forget that they were ever in your debt book.

Woe betide that person who is known for being too relaxed as a debtor. They just don't see it at the initial stage, but they lose their creditworthiness as more people get to see them as chronic debt defaulters.

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Trust means a lot when money is involved. Incurring debt without settling the debt is one of the easiest ways to lose people's trust. Now, if you believe both statements to be true, you will do good to always give yourself a nudge to pay back all your debt as and when due.

Even a penny you owe anyone has to be paid back.

Thanks For Not Missing Any Full-stop Or Comma
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Posted Using LeoFinance Beta



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You intro made me remember game of thrones...
Been too relaxed with debt only make one a chronic debtor and the type that does not intend to pay back.

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Hahah... Yeah. That line in Game of Thrones was very remarkable. It's hard to forget such

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Even a penny you owe anyone has to be paid back.

Reading this today reminds me of how some have made their second "debtors" they are okay collecting money from people everywhere, not minding what bad names it has brought on them.

Even the Bible says that a debtors is a slave to the person his is owning. I refuse to be a slave. I will try to settle all debtor in other to be a free person.

Thanks for sharing.

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Amazing. You have a solid point and these are facts. Being a debtor, especially those that take debt without paying back, is not a good mark on people's reputation.

Debt has caused ruin to individuals and businesses, yet many people fail to see that as an issue.

A debtor is indeed putting shackles of slavery on himself

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You are very right on this. Some people get so much relaxed with debt and some time has no plan on paying back . To me, it gives me sleepless night sometimes depending on the condition of the debt and clearing my debt comes with huge relief.

It's good to set a feasible plan of paying debt immediately one enter into one

January this year, someone borrowed my husband some money and promised to back in a week time, since then oo
..he even open a laundry business and still claiming that he has no money to pay back yet.
You can imagine.. people sef
Using debt to make their cool business

Well, last week...we went for him with red eyes and he paid by force 😂😂

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Hahaha.... Now I'm feeling pity for the dude that received a visit from people with 'red eyes'. Haha. That's so hilarious.

I like to believe that if it's possible, nobody would ever want to be indebted to another person. Sometimes, we can't avoid it, but the difference is how we act when we are indebted to anyone.

If we clear our debt as and when due, it will make it so much easier to develop trust and be in a position where we can borrow more from the person in the future. But, once we allow our debt to build up for too long without trying to payback what we are owing people, nobody will ever want to lend us money when we are in need.

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