A lot of us take advantage of the use of "Debt" we even overuse it and forgetting that dealing with money issues can sometimes be unrewarding after it is has been used... the next thing we know we are in deep debt.
I had my fare share of debt moments actually up to now i have a small amount of debt, may it be a small amount of big one it's still debt.
I'm in my mid 30's and of course I expected to have my own house, business and a good bank account... BUT, I am not happy about it at this moment of my life yet. I am such an ambitious and realistic person at my age but during my 20's i am just a dreamer.
I once borrowed money for a certain "Networking" business and yes it did not work. What had worked is my debt that continues to add up % to the actual amount i borrowed, it took me a few months to finally settle it and can breathe freely. But i did not regret borrowing money and be in debt because i know for once i used the borrowed money for business and it's not my debts fault if it did not prosper.
Money is a taboo. Just like what Sir Araya said, debt has its own good and bad. Before you borrow money, it's important to make sure you will be able to repayment, otherwise you could end up in a hard debt that could lead you to sell your properties and investment and worse it could put you in jail. Borrow only what you can pay and it should be in a useful purpose. I'm the type of person who spend less than what i earn, being the eldest because id rather prepare for emergency needs and unexpected needs in the house. I don't indulge myself to fancy jewelries or bags and shoes, I don't even buy expensive gadgets and eat on a fancy restaurants. I know how hard earning money is that's why i had this attitude of i should spend it wisely and useful.
“You must gain control over your money or the lack of it will forever control you.” ~Dave Ramsey
I had also let someone borrowed money from me for a friend whose in badly need, I know the feeling of borrowing the felling of being ashamed of how to say the word "Pautang" because the person I'm borrowing from will automatically ask "Kelan ka magbabayad"? So from the experience alone i am easily convinced of the reason why a person is borrowing, however the question really relies from is the reason true and when will that person repay me. Because the hardest part is when I need the money already I'm having hard time getting it back.
If i could borrow money again I would want to make good use of it for business purpose so that i can have means to repay it. I want to encourage myself in paying my debt whenever i borrow and recognize the importance of saving money for my future.
“What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?” ~Adam Smith
Take action on your debt problems today and take away the stress and worry it gives you thinking and carrying it.
With my co-bloggers and Mr. Aya Araya