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Do you think debts are a good thing ?
  • Most people take on debt assuming that it would benefit them over the long term. But as cost of living rises with time, the very same debt which looked like a tool for growth , now looks like a noose around the neck. Be it companies or individuals, debt when taken as a tool of growth always results in a mess.
  • Yes, it sure turns out that way. I concur.
  • Well.. if you ask me personally..I would prefer not to lend or take from anyone...I think everyone wants a debt free life
    but, situations circumstances, big wants and desires and our tax systems sometimes forces us to borrow from banks..
    even credit cards are kind of debts..but to maintain a lifestyle debts have become a neceessary evil..
    as long as you are responsible with the finances and lifestyles debt is fine
    there is a hindi saying
    "Chaadar dekh ke pair failao"
    debts make us "Pair failao fir chaadar naapo, kaam pade toh baaju wale ka dhaapo"
  • Most people take on debt assuming that it would benefit them over the long term. But as cost of living rises with time, the very same debt which looked like a tool for growth , now looks like a noose around the neck. Be it companies or individuals, debt when taken as a tool of growth always results in a mess.



    Debts are good way to cope up in emergencies i think. Unless or untill you don't need money, don't go for taking a loan or some other sort of funds. The reason is that you have to pay for that amount as well that calls interest and this turns to be big sometimes.

    Like in United States, there are really services that can provide you cash within few hours only directly into your account but it include high interest rates (APR) and that can be counted as up to 30% of your applied amount. Unless you have emergency, try to manage things by your own.



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