Debt is not a bad thing if there is a good reason behind it
The world is in a financial mess, the economy is crumbling, people are suffering and the crime rate is high! who are we to blame? Of course, I won't blame the government, I blame humans! If others were to be in the position of those ruling us, they might do worse...
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Do you need proof? Why do traders increase their goods price when the dollar rate increases even though they have already bought the goods when the dollar rate was low but when the dollar rate drops, they refuse to decrease the price of their goods? yet we all blame the government for how expensive things are.
In my country, if a truck of goods should fall and the goods scattered, people will rejoice and start looting instead of helping the driver to get the goods back in the truck, yet we blame the government. This is a story for another day though
The financial crisis makes it hard for most people to survive, the little money they earn through hard labor is spent on food and shelter which makes life difficult, the earnings are not enough to cater to their needs and this is why people run into debt, you collect foodstuffs from mama Kelechi today on credit, owe them fees in our children schools and so much more and before we know it, it pile up to an extent that it scares the debtor.
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The people that shock me the most are those who borrowed money from loan apps to pay other loan apps, I know someone who borrowed money from 5 loan apps with the mindset of not paying back, I believe it might not affect him now until later in future, he who has nothing to lose indeed has nothing to fear, so right now he won't care about the trouble that awaits him in the nearest future if he happens to make it.
I once collected a loan here on hive which made me a debtor too but I am someone who does not like owing others, so during that period I was labeled a debtor, I doubled my hustle to make sure that I paid off the loan as fast as possible, yea it cost me something, I could not eat the way I use to, in fact, I was literally starving myself just to make sure that I was able to pay the loan faster and it paid off!
Debt is not a bad thing as long as you have a good purpose for it, it could be to keep yourself alive from hunger, or it could be to start up a good business, whatever your reasons may be, just make sure it is a good one that impact your life.
As for the hunger part, I don't mean going out to collect foodstuffs with the mindset of not paying back, I mean it is okay to collect foodstuffs on credits and clear your debt once you have the money.
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We are agree with the title of this post.
Life include sacrifices, something debt is part of that sacrifice.
But you need to work hard to play hard.
If you have clear you're goal, no matter what all things you live you'll find peace and more ideas to grow your path and achieve your goals.
Good post bro!
Even the likes of Dangote and all are in debt
If debt is used for business purpose and you run the business well, there will be no way you won’t be able to repay the loan
Life bring many difficulties to us and sometimes we may need the financial help of others. So I think there is nothing wrong borrow some money from others as long as we have the intention to return it as fast as possible. It's a temporary need for us.
I believe traders do that because they’ll need an increased capital when they go for new goods. I understand that they probably bought things at a lesser price but if they keep it at that price, then when they are going for new things, they wouldn’t really have enough money or would have to add up from the their own pockets which would mean a loss to them. I know it’s a cheat but I believe this is why.
For me debt should only be taken when it is inevitable with a mapped out plan on how to pay back.