Good evening everyone in @steemschool,I hope we all are having and amazing weekend.
Today I will like to share with us what I titled the ""does and don't" of borrowing.
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Debt is dangerous and can make you remain in Poverty for the rest of your life especially when you borrowed money for pleasures. Now hear this;
THE DON'T OF BORROWING.
• Don't borrow money because you want to buy one or two trending Clothes, Expensive phones.
Its quite unfortunate that young people nowadays borrow money and spend it on things that can't pay back the loan,it can lead to abject poverty.
• Don't borrow money because of Wedding. No matter how much you spend on your wedding, it is not a guarantee for a successful Marriage. Remember you borrowed the money alone with your wife, nobody will follow you to pay it back,friends and family will leave you and your wife alone after wedding!
• Don't borrow to look rich! Lot of people have made it an addict to always borrow just to look rich, let people see that they are doing well. But right inside them they can't even earn up to 10k monthly but always spend more than they earn..
THE DOES OF BORROWING.
• If you must borrow, you can borrow money to invest, because it will make ways for you to be out of the bondage of poverty.
• You can borrow money to buy a House in a developed urban area, buying landed property, vehicles for commercial transports etc. If well managed, the returns will be fantastic.
• You can borrow money to start up a Business, Business is an investment which must be well managed and in a site positioned for marketing and nice business strategy, this will be giving you good returns, weekly, monthly or yearly.
• You can borrow money to take care of yourself because Life is wealth. threatening illness, disease, infections etc can end your investment. But make sure that your business or your job is capable of repaying the loan when you recover from the illness.
CONCLUSION
Before you borrow money, think of the benefits, if there are no benefits, then don't go further unless you want to remain poor because of debt and don't forget that dept can make you a slave.
Thanks.
CC:
@dorbatim
@cryptokannon