Some risks attached to a life full of debt

[Carpon]

Debt is indeed not a very good situation to find yourself in. And I say this out of a personal experience because there is a lot of risks that living in a life full of debt can convey and land you in. Such risks include:

• Financial risks: This has to do with the effect that debts have on your finances. You will lack the ability to sufficiently take care and manage your finances because you will always have to use your earned money to settle debts.

• Health risks: when you are full of debt and you face a health challenge, you will be exposed to a lot of threat especially if the challenge is one that requires much to settle. You don't have the funds to settle it independently and you are already indebted and getting more will mean more harm.

✓ Status: Your status in your society may also get lowers since you will be indebted to people around you.

 

[Etini]

The effects of debt on a person's finances cannot be overemphasized. It would make you live a life of pressure. The pressure alone can make you develop high blood pressure. Imagine you are owing a financial institution loan, your mind won't be at rest as the due date approaches. Debt complicates a person's life.

When you owe small debts in your neighborhood or close circles, you won't be able to associate with people. Any time you see the person you owe, you would want to avoid him at all costs. Indeed, the borrower is a slave to the lender. That's why I advocate for living within your means.

I once was in debt and I could recall how the experience was. Every knock on my door sent shivers down my spine. Every incoming call made me scared. Not to talk of the embarrassment and humiliation I faced. As much as possible, we should live a debt-free life.